City Wide Mortgage Services | canada prime rate

Rates

effective October 24, 2020

Term	Bank Rate	Our Rate
1 Year	3.14 %	1.74 %
2 Year	3.19 %	1.74 %
3 Year	3.49 %	1.74 %
4 Year	3.74 %	1.74 %
5 Year	4.59 %	1.68 %
7 Year	5.35 %	2.34 %
10 Year	5.60 %	2.84 %

08OCT
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Canada’s housing agency warns about overbuilding as housing starts surge @FinancialPost

Canada’s housing agency warned against overbuilding after a surge in condo and apartment projects took housing starts to a three-year high. Work on new homes advanced 7.7 per cent to 230,701 units at an annual pace in September, the Canada Mortgage & Housing Corp. said Thursday from Ottawa. Urban multi-unit projects such as condominiums and
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06OCT
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Nearly one in six Canadians could not handle $500 increase in mortgage payment @FinancialPost

OTTAWA — Nearly one in six Canadians would not be able to handle a $500 increase in their monthly mortgage payments, a new survey from the Bank of Montreal suggests. According to the bank, 16 per cent of respondents said they would not be able to afford such an increase, while more than a quarter,
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30SEP
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10 Must Reads for the CRE Industry Today @RealEstateInvestor

Grand Central Owner Penson Sues City Over Air Rights “Real estate investor Andrew Penson, who owns Grand Central Terminal, sued New York City contending that Mayor Bill de Blasio, the City Council and developer SL Green Realty Corp. are depriving him of air rights through a building development at the train station. The value of
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Canada’s housing agency warns about overbuilding as housing starts surge @FinancialPost

Nearly one in six Canadians could not handle $500 increase in mortgage payment @FinancialPost

10 Must Reads for the CRE Industry Today @RealEstateInvestor

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