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March 20th Mortgage Industry Update

March 20th, 2018 Mortgage Industry Update The Bank of Canada announced on March 7th that it's overnight lending rate will remain at 1.25%. The prime rate thus remains at 3.45% with most lenders. The 5 year posted rate remains at 5.14%. Almost all fixed rates remain stable without any significant changes. Additionally this week: - The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices were down 0.1 per cent last month compared to January. - ... Read more

July 2015 Industry Stats

July 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on July 2nd, 2015. The major statistics are summarized as follows: Bank of Canada interest rate remains at 0.75% Prime lending rate remains at 2.85% The 5Y variable qualifying rate remains at 4.64% The Government of Canada Bonds have slightly declined. The number of housing starts remained steady from 66,100 (May 2014) to 84,200 (May 2015) The average MLS resale price in Toronto increased from $585,204 (May 2014) to $649,599 ... Read more

June 2015 Industry Stats

June 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on June 4th, 2015. The major statistics are summarized as follows: Bank of Canada interest rate remains at 0.75% Prime lending rate remains at 2.85% The 5Y variable qualifying rate remains at 4.64% The Government of Canada Bonds have stabled. The number of housing starts remained steady from 65,400 (April 2014) to 64,500 (April 2015) The average MLS resale price in Toronto increased from $557,898 (April 2014) to $635,932 (April ... Read more

May 2015 Industry Stats

May 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on May 5th, 2015. The major statistics are summarized as follows: Bank of Canada interest rate remains at 0.75% Prime lending rate remains at 2.85% The 5Y variable qualifying rate remains at 4.64% The Government of Canada Bonds are rising. The number of housing starts increased significantly from 39,000 (March 2014) to 62,700 (March 2015), a 60.7% increase The average MLS resale price in Toronto increased from $557,684 (March 2014) ... Read more

April 2015 Industry Stats

April 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on April 6th, 2015. The major statistics are summarized as follows: Bank of Canada interest rate remains at 0.75% Prime lending rate remains at 2.85% The 5Y variable qualifying rate remains at 4.74% The Government of Canada Bonds have declined slightly The number of housing starts decreased significantly from 60,200 (February 2014) to 44,900 (February 2015), a 25% decrease The average MLS resale price in Toronto increased from $553,193 (January ... Read more

March 2015 Industry Stats

March 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on March 6th, 2015. The major statistics are summarized as follows: Bank of Canada interest rate remains at 0.75% Prime lending rate remains at 2.85% The 5Y variable qualifying rate remains at 4.79% The Government of Canada Bonds have declined slightly The number of housing starts increased from 60,900 (January 2014) to 61,500 (January 2015), a 1.0% increase The average MLS resale price in Toronto increased from $526,528 (January 2014) ... Read more

February 2015 Industry Stats

February 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on February 3rd, 2015. The major statistics are summarized as follows: Bank of Canada interest rate dropped to 0.75% Prime lending rate dropped to 2.85% The 5Y variable qualifying rate remains at 4.79% The Government of Canada Bonds have declined significantly The number of housing starts increased from 56,800 (December 2013) to 60,600 (December 2014), a 6.7% increase The average MLS resale price in Toronto increased from $520,398 (December 2013) ... Read more

January 2015 Industry Stats

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 Bonds maintain their overall position The number of housing starts decreased from 59,500 (November 2013) to 58,600 (November 2014) The average MLS resale price in Toronto increased from $538,881 (November 2013) to $577,936 ... Read more

December 2014 Industry Stats

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 Bonds maintain their overall position The number of housing starts decreased from 70,600 (October 2013) to 53,200 (October 2014) The average MLS resale price in Toronto increased from $539,058 (October 2013) to $587,505 ... Read more

November 2014 Industry Stats

November 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on November 11th, 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 Bonds maintain their overall position The number of housing starts decreased from 60,400 (September 2013) to 54,700 (September 2014) The average MLS resale price in Toronto increased from $533,797 (September 2013) to $573,676 ... Read more
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