March 12th, 2015 Mortgage Industry Update

The Bank of Canada announced on March 4th that it’s overnight lending rate will remain at 0.75%. The prime lending rate at most lending institutions thus remains at 2.85%. Additionally, most fixed rates are on the decline due to bond market declines.

Additionally this week:
– RBC boss defends Canadian housing market; says “feels good”. Learn More.

– Renovations across Canada boom in response to high prices. Learn More.

– Realtors warned of dangers from email scams. Learn More.

– Sotheby’s says that the $1 million-plus market in Calgary to suffer. Learn More.

– There were minor rate cuts with a few lenders across their 3 year promotional mortgage rates.

– Toronto still important for world’s wealthy. Learn More.

 
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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