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Finally, without any divine intervention – lenders have managed to jack their interest rates up.

Started on late Thursday by RBC followed by TD – finally the ripple has reached the brim. Almost all the lenders have raised their interest rates.

Industrial Alliance – late this day – sent its brokers and agents a note that by 5pm EST it is also raising rates – effective today. All the incomplete and half complete deals must be completed and submitted within an hour.

Just one note – good rates did not really disappear from the market. Only the bottom end of the rate spectrum saw some healthy adjustments. Our lenders need a break after-all.

Filogix servers are running extremely hot 24/7. Lenders are extending their standard turnaround time.

Did anyone say there is a housing downturn?

Teranet reported a raise in housing price and housing activity in May.

Spring has finally sprung, albeit a bit late.

Our minister can breathe a sigh of relief – bond market has done his job without crippling the housing foundation.