‘The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. ‘ – Bank of Canada
General
31
Aug
Summary of TRREB MLS® Sales for the GTA and Average Price July 1 to July 31, 2021
Posted by: Croydon DeMello
Sales 9,390
Average Price $1,062,256
New Listings 12,551
14
Jul
Bank Of Canada Policy Interest Rate Announcement July 14, 2021
Posted by: Croydon DeMello
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. – Bank of Canada
7
Jul
CMHC UPDATE
Posted by: Croydon DeMello
CMHC has lowered their requirement for at least one borrower on a mortgage application to have at a 600 beacon credit score and increased qualifying ratios back to 39% (GDS) & 44% (TDS)
7
Jul
Summary of TRREB MLS® Sales for the GTA and Average Price June 1 to June 30, 2021
Posted by: Croydon DeMello
Sales 11,106
Average Price $1,089,536
New Listings 16,189
9
Jun
Bank Of Canada Policy Interest Rate Announcement June 9, 2021
Posted by: Croydon DeMello
‘The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.’ – Bank Of Canada
8
Jun
Summary of TRREB MLS® Sales for the GTA and Average Price May 1 to May 31, 2021
Posted by: Croydon DeMello
Sales 11,951
Average Price $1,108,453
New Listings 18,586
1
Jun
** New Stress Test Effective June 1, 2021 **
Posted by: Croydon DeMello
Effective June 1, 2021 for both insured and uninsured mortgages a stress test will apply where the minimum qualifying rate will be the greater of the mortgage contract rate plus 2% or 5.25 percent.
20
May
Posted by: Croydon DeMello
‘Today, the Office of the Superintendent of Financial Institutions (OSFI) announced that, effective June 1, the minimum qualifying rate for uninsured mortgages (i.e., residential mortgages with a down payment of 20 percent or more) will be the greater of the mortgage contract rate plus 2 percent or 5.25 percent.
OSFI will review and communicate the qualifying rate at a minimum annually, every December, well in advance of the high-volume housing spring season.’ – OSFI
18
May
Summary of TRREB MLS® Sales for the GTA and Average Price April 1 to April 30, 2021
Posted by: Croydon DeMello
Sales 13,663
Average Price $1,090,992
New Listings 20,825