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Bank of Canada Interest Rate Stays at 1% After December 6 Announcement

The Bank of Canada announced its latest interest rate target on December 6, 2017. The Bank of Canada interest rate stayed at 1%, which was set in September of 2017. “The global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR),” the Bank stated in a December 6 press release. “In the United States, growth in the Continue Reading

Second Teranet Market Insights Report Dives into Age and Real Estate Connection

Mortgage brokers and agents alike are sure to find valuable information in our second edition of the Teranet Market Insights report. In the November 2017 publication, we feature up-to-date data on millennial home buying trends, age demographics and the impact on the Ontario real estate market, and Ontario residential sales volumes and conveyancing trends across Canada. This is the first Continue Reading

Mortgage Underwriting in an Uncertain Canadian Real Estate Market

An uncertain, fluctuating Canadian real estate market can be absolute nightmare conditions for an agent or mortgage broker to work in. Your efficiency, closure rates, and overall success will be more dependent on your underwriting than ever. Let’s look at considerations and contingencies. First – lenders can get finicky when house prices begin to fluctuate and begin taking extra measures, Continue Reading