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Thursday, October 6, 2016 - Mortgage Changes

October 17, 2016 is a critical date as that is the day the Federal Government mandated changes to mortgage insurance rules will take effect. These new rules will require all insured mortgages to undergo a ?stress test? from the lender. That test will require the buyer to qualify for a mortgage at the Bank of Canada posted rate, currently 4.64%, even though they would still receive their contract rate. As a Buyer, your buying power is thus lowered by the need to qualify at the higher interest ... Full Article...
posted in General at Thu, 06 Oct 2016 15:32:57 -0600

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Buying or selling real estate is one of the most significant financial decisions you will ever make.  We are pleased to now offer this open forum for your convenience and information exchange regarding real estate transactions.

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