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July 27th Mortgage Industry Update

July 27th, 2021 Mortgage Industry Update The Bank of Canada announced on July 14th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – Zumper: Toronto rents fell to fourth place nationally, with the median of $1,710. Barrie came in ... Read more

July 20th Mortgage Industry Update

July 20th, 2021 Mortgage Industry Update The Bank of Canada announced on July 14th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – CREA: Home prices are down for the third consecutive month since reaching a peaking in March. ... Read more

July 13th Mortgage Industry Update

July 13th, 2021 Mortgage Industry Update The Bank of Canada announced on June 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – A new joint study by MoneySense and Zoocasa has highlighted the most financially challenging Canadian markets ... Read more

July 6th Mortgage Industry Update

July 6th, 2021 Mortgage Industry Update The Bank of Canada announced on June 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – RBC affordability measure, which charts ownership costs to household income, climbed 0.9 percentage points for Canada ... Read more

June 29th Mortgage Industry Update

June 29th, 2021 Mortgage Industry Update The Bank of Canada announced on June 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – Rentals.ca National Rent Report: The average asking rent for all Canadian properties in May grew by ... Read more

June 22nd Mortgage Industry Update

June 22nd, 2021 Mortgage Industry Update The Bank of Canada announced on June 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – Properly: By comparing the sale prices of GTA homes during the housing peak of January - ... Read more

June 15th Mortgage Industry Update

June 15th, 2021 Mortgage Industry Update The Bank of Canada announced on June 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – The majority of economists (55%) believe that the Bank of Canada overnight rate will hold for ... Read more

June 8th Mortgage Industry Update

June 8th, 2021 Mortgage Industry Update The Bank of Canada announced on April 21st that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – Canada's economy could be in for a significant rebound this year, according to an upgraded outlook ... Read more

June 1st Mortgage Industry Update

June 1st, 2021 Mortgage Industry Update The Bank of Canada announced on April 21st that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – BILD: Condos comprised 3,619 new home sales in the GTA in April. This was the highest ... Read more

May 25th Mortgage Industry Update

May 25th, 2021 Mortgage Industry Update The Bank of Canada announced on April 21st that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – CREA: National home sales fell 12.5% in April from March, as new listings also declined 5.4%. ... Read more
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