According to CREA, home sales for June 2020 is up by 63%. The number of newly listed property is up by almost 50% month on month, which is almost 5% higher than jun19. HPI is up 5.4% year on year.
Mortgage rates are going to stay low and Sales for the month of July also look better than last year. The current bank lending prime rate is 2.45% which is one of the best rates we have seen recently.
As of 7th July 2020. following are the term rates. Lending prime rate is for prime customers and customer who are in sub prime cohort will not be ale to get these rates.
