Housing Market Soars Above Pre-Pandemic Levels. But Will it Last?
The unlikely rebound of Canada’s real estate market continues, with home sales surging to 20% higher than pre-pandemic levels.
Steve Huebl
09/15/2020
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Category: Real Estate
Big Banks Still Dominate Mortgage Market Share, Says CMHC
Big banks originate nearly 7 out of 10 (67%) of new Canadian mortgages, although their market share has fallen slightly from last year, according to CMHC. Of total mortgages outstanding, the big banks hold 72% of those loans, down from 75% in 2018, according to the latest Residential Mortgage Industry Report released by the Canada Mortgage and Housing Corporation (CMHC). Their average loan in 2019 was $220,650, with interest rates ranging from 3.10% to 5.20% and a delinquency rate of […]
Steve Huebl
09/14/2020
Bank of Canada Reaffirms Its Low-Rate Outlook
Despite a booming housing market and rapid job recuperation, the Bank of Canada warned that the country’s economic recovery will be “heavily reliant on policy support.”
Steve Huebl
09/10/2020
Mortgage costs stay low, central bank keeps interest rate at rock-bottom level
The Bank of Canada announced today that it would be keeping its mortgage-market influencing policy rate at the record low 0.25 percent level with no sign that it would increase any time soon.
Sean MacKay
09/09/2020
#StayHomeTely2020
Registration period: September 1 – September 30, 2020 Challenge period: begin, complete, and submit your activity between September 15 and November 15, 2020. Kids Tely-10
Ian Clark Mortgages
09/07/2020