Last week the government announced yet another set of rule changes that will impact the conventional mortgage market; those who have at least 20% equity/down payment on their property. They have implemented what is called a “stress test”, effective… Continue reading
Have you ever wondered why your credit score is as low as it is when you are diligent in meeting the monthly obligations? It’s derived of more than your repayment history & how many inquiries you may have. … Continue reading
The Bank of Canada raised rates for the first time in seven years. The new benchmark rate is .75%, up .25%. The Bank says Canada’s economy has been “robust”. As for future rate hikes, the Bank didn’t give much indication.… Continue reading
Here’s a great article written by a colleague of mine, Dustan Woodhouse, about how the new mortgage rules have severely limited purchasing power.
The average person if stopped on the street and asked; Are today’s low interest rates driving up… Continue reading
If you’ve been house hunting for any period of time (especially in the GTA and surrounding areas), it usually won’t take long until you realize that it can be a very daunting experience. Just when you think you may… Continue reading
Effective March 17, 2017, high ratio insurance premiums will be increasing. This comes right on the heels of the changes the federal government set out in October. Below is a chart of the new premiums:
Loan-to-Value Ratio Standard Premium (Current)… Continue reading