December 18th, 2014 Mortgage Industry Update

As the year ends, we see lenders start to stabilize their interest rates. For this reason, mortgage promotional rates are likely to remain the same, as 2014 concludes.

Additionally this week:
– PM Harper reassures Canadians that federal budget will balance and tax measures and spending plans will remain, despite lower oil revenues.

– Foreign condo investment in Toronto is 2.4%, according to a survey conducted by the CMHC. The survey was the first of its kind.

– Scotiabank predicts that rates will stay lower for at least another year, with the first increase not happening until the beginning of 2016.

Stay tuned for the next update!

For any questions and concerns please do not hesitate to call Harpreet Singh The Mortgage King at (416) 795-1919.

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