New Rule Targets HELOC Holders Seeking a Second Mortgage + MORE Nov 9th

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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Housing slump? Recession? Not so fast… Nov 24th

Remember all those pessimists who were calling for a housing bubble or collapse? If you listened to them and rented for the past eight years, how much would you have lost? How much would your rent have increased since then? And would you still be able to rent that condo or house… or would you.... More »

Kerzner: Your Involvement is Vital to the Mortgage Industry Dec 6th

We are all learners; as parents, as students, as leaders, as employees. An important part of learning, for me, is reflection. We can only really grow and improve when we take a good, hard look at what’s working and what’s not.  My time has ended as Director of Ontario, and Executive Member of t.... More »

New Mortgage Rules Improving Credit Quality, BoC Says + MORE Nov 18th

Mortgage rules implemented over the past two years, along with rising interest rates, have worked to improve credit quality and reduce the number of highly indebted borrowers in the market. That’s according to a Bank of Canada research paper released this week and co-authored by bank staffers Olga.... More »
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Mortgage risks fading thanks to higher rates, tougher rules, says Bank of Canada report Nov 15th

The lofty levels of household debt has been a key concern for the Bank of Canada as it gradually raises its trend-setting interest rate, which it has already hiked five times since the summer of 2017..... More »
An increase in multi-unit projects such as condominiums, apartments and townhouses helped push the annual pace of housing starts in October higher, Canada Mortgage and Housing Corp. said Thursday.

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Buying a home is cheaper than renting. Don’t be intimidated!
Could 2018 be the year where the pessimists finally get their way? I hate to admit it, but this could be the year where buying a home may not be a good idea.
OK, just kidding!!!
But after years of seeing countless articles and posts about rising interest rates, housing affordability issues, mortgage stress tests disqualifying some people from being able to buy, higher personal debt levels, NAFTA economic fears and Donald Trump (ok, Trump has nothing to do with this, but you can’t write an article these days without blaming him, right?!), does it still make sense to buy a home?
Yes! There is positive news. You can still buy a home. And you can still qualify for a mortgage.

And renting should scare the life out of you as rents are hitting ridiculous levels. (I have a client in Owen Sound, Ontario looking to buy because renting a house is costing $1,700/month… in Owen Sound!!)
Here are some numbers for you to consider
Today, a household annual income of $70,000 will qualify you for a $300,000 mortgage…

Continue Reading On canadamortgagenews.ca »

The word is out on a little-known policy used to qualify anyone with a HELOC who is applying for additional financing. Several of the Big Six banks have already adopted the policy, which requires applicants to prove they can afford the theoretical monthly HELOC payment based on the limit of that HELOC, rather than the […]

Continue Reading On canadianmortgagetrends.com »

A number of reports and surveys have been released over the past couple of weeks providing insight into everything from borrowing trends and consumers’ financial health to the current state of the real estate market. Here’s a recap of some of the most recent data releases:   One Fifth of GTA Refi Deals Now Through […]

Continue Reading On canadianmortgagetrends.com »

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