August 15th, 2014 Mortgage Industry Update Interest rates slightly decreased with a major lender as promotional rates declined from 2.99% (5Y fixed) to 2.89%. Often we see a domino effect when it comes to lenders changing rates as they feel the need to remain competitive in the mortgage market. This may serve as a reason […]
August 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on August 8th, 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 […]
August 7th, 2014 Mortgage Industry Update Interest rates slightly decreased with a few major lenders as promotional rates declined from 2.99% (5Y fixed) to 2.94%. Often we see a domino effect when it comes to lenders changing rates as they feel the need to remain competitive in the mortgage market. This may serve as a […]
July 31st, 2014 Mortgage Industry Update Firstly, I’d like to start off this week’s update with some inquires I had regarding financing purchases in America. Since it was a common concern this week from a few of my partners, I’d like to address it as a whole as I feel many people would be able […]
July 24th, 2014 Mortgage Industry Update Interest rates this week remained the same. No major changes were observed and interest rates are likely to remain stable for the month of July. Additionally this week: Some major lenders reduced their lending criteria slightly, allowing a easier borrowing process Royal Lepage reported that a limited supply of […]
July 16th, 2014 Mortgage Industry Update Interest rates this week remained the same. No major changes were observed and interest rates are likely to remain stable for the month of July. Additionally this week: The Bank of Canada maintained its overnight interest rate at 1%. The Canadian housing market beat expectations with resales going up […]
July 9th, 2014 Mortgage Industry Update Interest rates this week remained the same. No major changes were observed and seems like the beginning of July has got off to a smooth start. Interest rates are likely to remain stable for the month of July. Additionally this week: CMHC released the number of housing starts for […]
July 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on June 3rd, 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%, a drop from earlier […]
2.79% 5Y Fixed Rate Promotion! One of our key lenders has decreased their 5 year fixed rate, as of this morning. The rate was decreased from 2.99% to 2.85%, however The Mortgage King exclusive rate is 2.79%!!! The update brings along some controversy as many lenders were initially tightening up their rates and lending criteria. […]
June 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on June 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 has dropped from 4.99% to 4.79%, leading […]