Real Estate News Headlines // March 19th 2015

Jethro Seymour, one of the Top Toronto Real Estate Brokers, provides you with Canadian real estate news headlines.


CBC

Bank of Montreal has lowered its five-year fixed mortgage rate to 2.79 per cent from 2.99 per cent, effective immediately. Late on Tuesday, TD Canada Trust announced it would match that rate, effective Wednesday.
The OECD has reduced its 2015 and 2016 economic growth forecasts for Canada, citing the drag caused by a significant drop in prices for oil and other commodities since its previous outlook in November.
Analysts are disagreeing about just how badly the low price of oil will hit the housing market in St. John’s.


The Globe and Mail

Prime Minister Stephen Harper says Ottawa is not planning any “immediate action” related to the Canadian housing market, though he acknowledges his government is watching developments closely.
The Prime Minister made the comments during an appearance in Mississauga, Ont., where he was announcing support for Canadian exporters.