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May 21st Mortgage Industry Update

May 21st, 2019 Mortgage Industry Update The Bank of Canada announced on April 24th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands that the Bank of Canada will likely keep rates consistent for 2019. Additionally this week:- Teranet-National Bank Composite House Price Index: Prices were flat last month from March. It was just the second time in 21 years of data that index showed no increase in April. Prices fell in 6 ... Read more

May 14th Mortgage Industry Update

May 14th, 2019 Mortgage Industry Update The Bank of Canada announced on April 24th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands that the Bank of Canada will likely keep rates consistent for 2019. Additionally this week:- Sotheby’s International Realty Canada: 28% of ‘modern family’ homeowners in major Canadian metros said that transit-friendliness is one of their top 3 homebuying criteria. Transit links more important than car-friendliness (17%), with cycle-friendly neighbourhoods trailing ... Read more

May 7th Mortgage Industry Update

May 7th, 2019 Mortgage Industry Update The Bank of Canada announced on April 24th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands that the Bank of Canada will likely keep rates consistent for 2019. Additionally this week:- The latest reading of Canada’s economy brings both good and bad news for the housing market. While growth slowed in February – to just 0.1% following a 0.3% rise in January – the weakness will ... Read more

April 30th Mortgage Industry Update

April 30th, 2019 Mortgage Industry Update The Bank of Canada announced on April 24th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands that the Bank of Canada will likely keep rates consistent for 2019. Additionally this week:- Zoocasa: You would need to be in the top 25% of income earners in both Toronto and Vancouver to afford a typical condo in those cities ($656,900 and $522,300, respectively). Need to be in top ... Read more

April 23rd Mortgage Industry Update

April 23rd, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- CBRE Global Living Report: Housing prices continued to grow in all but 5 of 35 cities analyzed. Hong Kong (average home $1,235,220 USD) and Singapore ($874,372 USD) ranked ... Read more

April 16th Mortgage Industry Update

April 16th, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- The Ontario Real Estate Association is lobbying the provincial government to prohibit bully offers, citing its desire to enhance professional standards in the industry. - CBRE: Asian investments in ... Read more

April 9th Mortgage Industry Update

April 9th, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- TREB President: “The stress test provisions and mortgage lending guidelines generally, including allowable amortization periods for insured mortgages, should be reviewed”. The board says the stress tests continues ... Read more

April 2nd Mortgage Industry Update

April 2nd, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- Experts see signs that mortgage interest rates in Canada may continue dropping this year. BMO Senior Economist points to the fact that five-year government bond yields have been ... Read more

March 26th Mortgage Industry Update

March 26th, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- Sotheby’s International Realty Canada Report: In the first two months of this year sales of Toronto homes priced between $2–4 million dropped 21 percent compared to the same ... Read more

March 19th Mortgage Industry Update

March 19th, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- CMHC: 3.8% of all residential properties in Toronto have at least one non-resident owner, with this number falling slightly to 3.3% province-wide. Proportions highest for condominiums, with 7.6% ... Read more
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