Blog

October 2nd Mortgage Industry Update

October 2nd, 2014 Mortgage Industry Update One of our main lenders decreased their 5 year variable interest rate to 2.20%!!! There is a possibility some lenders will follow, for the month of October. Additionally this week: - The Toronto Star released an article stating the GTA is expected to lead country in luxury home sales. . - A new poll stated that GTA homebuyers are choosing convenience over size. . - First-time homebuyers are feeling the weight of Canada's housing boom. . - The ... Read more

July 16th Mortgage Industry Update

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 11.2%, and prices up 5.4%. RBC reported that consumer credit is holding steady and being managed a lot better by Canadians. A CMHC survey indicated that interest rates are the biggest factor ... Read more

July 9th Mortgage Industry Update

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 Canada for the month of June on July 9th, 2014. The number of housing starts slightly beat expectations, going against the prediction of a slow-down. The majority of housing ... Read more

2.79% 5Y Fixed Rate Promotion!

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. Awake of bad publicity by the media, lenders have decided to backlash by further decreasing their rates. What does this mean for homebuyers? You now have access ... Read more
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