Blog

November 20th, 2014 Mortgage Industry Update

Our 5 year fixed promotional rate has dropped to 2.69%, from 2.79%!!! It is possible that we could see some major banks follow the trend in the upcoming month.

Additionally this week:
– New 5 Year Fixed Promotional rate – 2.69%!!! Please call for an approval today!

– Mortgage rates set to stay lower for the next six months. View the full report at: [fancy_link link_text=”Learn More” url=”http://caamp.org/meloncms/media/Annual%20State%20Report%20Fall%202014.pdf” float=”none”].

– Analysts warn house prices can’t keep climbing. [fancy_link link_text=”Learn More” url=”http://www.huffingtonpost.ca/2014/11/17/average-house-price-canada_n_6172158.html?utm_hp_ref=canada-business” float=”none”].

– ATB Financial states that the Alberta economy will slow down for the next few years.

– An interesting article on underground condo development; perfect for a nuclear apocalypse, haha! [fancy_link link_text=”Learn More” url=”http://www.montrealgazette.com/news/world/Survive+nuclear+apocalypse+style+Underground+condo+with/10374830/story.html” float=”none”].

– Lenders still cautious about micro-condos. [fancy_link link_text=”Learn More” url=”http://www.thestar.com/business/real_estate/2014/11/12/banks_take_hard_look_at_micro_condos.html” float=”none”].

 
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.