Canadian Real Estate News Headlines (July 23rd 2019)
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I provide you with Canada’s news headlines for real estate news for today.
Bank Of Canada Lowers Mortgage Rate For 1st Time In 3 Years
Bank of Canada lowered the qualifying mortgage rate on Friday, from 5.34 percent to 5.19 percent. This is the first time in three years that the rate has dropped. The last time the rate dropped was in September 2016, back then the rate decreased by 0.10 percent to 4.64, the Canadian Press reports.
National Bank Of Canada: Don’t Take Real Estate Price Increase As A Sign Of “Vigour”
Canadians must be entering election season because not even real estate prices will give a straight answer. The Teranet–National Bank of Canada House Price Index (TNB HPI) showed prices increased in June. Economists at the bank warn not to read too much into the increase, however. Without seasonal pressures, the index would have shown a substantial decline for prices.
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