Mortgage Rates Collapse
The latest update:
Prime lending rate is down a full 1% and prime is now 2.95% and variable rate mortgages are as low as 1.95%
Mortgage stress test improvements slated for April 6 has been suspended indefinitely
Banks and mortgage lenders offer mortgage payment deferrals of up to six months
Ottawa is planning to purchase up to $50 billion in mortgages
Global Financial markets are in correction territory along with oil prices
Canadian dollar falls sharply against US dollar
Personal income tax deadline extended to June1
Real estate supply remains constrained and prices are trending higher
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