For the week of June 1, 2015

Interest Rates: Last week in their regular meeting, Bank of Canada did not raise interest rates. Rather, economists are now factoring in dismal economic data and once again talking about a further rate cut when BOC meets again in July. See more here.

Payment Factor $455 per $100K borrowed for a standard 5 year fixed mortgage amortized over 25 years. Example: a $200K mortgage has a monthly payment of $910/mo.

CMHC: Insurance premiums rise on Monday June 1st for people with less than 10% down payment. Expected to add about $5/mo extra in payment for average mortgage.