January 22nd, 2015 Mortgage Industry Update The Bank of Canada announced on January 21st that it’s overnight lending rate has decreased from 1% to 0.75%. These changes might be seen in the variable rate mortgage market in the near future. Additionally this week: – Toronto price gap between condos and houses widens. [fancy_link link_text=”Learn More” […]
January 15th, 2015 Mortgage Industry Update As the year starts, we see lenders continue to offer promotional rates that were common throughout last year. No significant changes have occurred, or are expected. Additionally this week: – RBC says household debt grew in November by 4.5%, marking a 2-year high. Residential mortgages accounted for a 5.2% […]
January 8th, 2015 Mortgage Industry Update As the year starts, we see lenders continue to offer promotional rates that were common throughout last year. No significant changes have occurred, or are expected. Additionally this week: – Alberta housing market starting to slowdown says BMO; Due to slow down in energy sector. [fancy_link link_text=”Learn More” url=”http://globalnews.ca/news/1757580/oils-collapse-sends-shiver-across-albertas-real-estate-market/” […]
January 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on January 6th, 2015. The major statistics are summarized as follows: Bank of Canada interest rate remains at 1% Prime lending rate remains at 3% The 5Y variable qualifying rate remains at 4.79% The Government of Canada […]
December 18th, 2014 Mortgage Industry Update As the year ends, we see lenders start to stabilize their interest rates. For this reason, mortgage promotional rates are likely to remain the same, as 2014 concludes. Additionally this week: – PM Harper reassures Canadians that federal budget will balance and tax measures and spending plans will remain, […]
December 11th, 2014 Mortgage Industry Update As the year ends, we see lenders start to stabilize their interest rates. For this reason, mortgage promotional rates are likely to remain the same, as 2014 concludes. Additionally this week: – BoC warns of an overvalued housing market, by as much as 10-30%. [fancy_link link_text=”Learn More” url=”http://www.mortgagebrokernews.ca/news/boc-joins-the-housing-overvaluation-discussion-186265.aspx” float=”none”]. […]
December 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on December 5th, 2014. The major statistics are summarized as follows: Bank of Canada interest rate remains at 1% Prime lending rate remains at 3% The 5Y variable qualifying rate remains at 4.79% The Government of Canada […]
December 4th, 2014 Mortgage Industry Update As the year ends, we see lenders start to stabilize their interest rates. For this reason, promotional rates are likely to remain the same, as 2014 concludes. Additionally this week: – Canadians expect to be debt free on retirement… except for the mortgage. [fancy_link link_text=”Learn More” url=”http://www.cbc.ca/news/business/manulife-survey-suggests-27-don-t-count-mortgages-as-debt-1.2855974″ float=”none”]. – […]
November 27th, 2014 Mortgage Industry Update Our 5 year fixed promotional rate has dropped to 2.69%, from 2.79%!!! It is possible that we could see some major banks follow the trend in the upcoming month. Additionally this week: – New 5 Year Fixed Promotional rate – 2.69%!!! Please call for an approval today! – New […]
November 20th, 2014 Mortgage Industry Update Our 5 year fixed promotional rate has dropped to 2.69%, from 2.79%!!! It is possible that we could see some major banks follow the trend in the upcoming month. Additionally this week: – New 5 Year Fixed Promotional rate – 2.69%!!! Please call for an approval today! – Mortgage […]