Last week, it was announced again that both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage. The Office of the Superintendent of Financial Institutions (OSFI) confirmed that it will move ahead with its stress test changes first announced last month, which will apply to uninsured mortgages…
We begin March with a much longer read, but hold on tight… it’s important and mostly good news! After a long ‘protest’ and waiting time, policy-makers are finally righting a wrong in the mortgage market! As of the 6th April, Canadians applying for default-insured mortgages will no longer have to go through the infamous “stress test.”…
From late 2016 until 2018, there have been rule changes by Canadian policymakers in the real estate industry. This led to many future homebuyers being suddenly afraid of owning their own property due to tightened mortgage lending rules, but reflecting on macro results now, it has appeared to be bringing the country’s real estate market…
We are now at the beginning of March, and the new mortgage rules are seeing their effects on potential future homeowners, especially younger people with lower income than baby boomers. These mortgage rules, however, should not completely stop you from going after your dreams! There are still ways to figure out a home purchase, without…
We are now in 2018 – and the real estate market in Canada has brought fresh changes to the way we will be buying houses now and for the many years to come. And it’s not just an issue of very high prices anymore… On New Years’ Day, a new mortgage rule was approved that…
