New Mortgage Rules 2018
New mortgage rules 2018: A practical guide
Bank of Canada maintains overnight rate, Prime will remain at 3.20%
Great news for all the variable rate mortgage holders. Prime will remain at 3.20%. You can start your happy dance now. The next scheduled date for announcing the overnight rate target is January 17, 2018. Press release
Why a 20% down payment may not be worth it
An informative article that does a good job explaining the impending mortgage rule changes. Click here
Bank of Canada maintains overnight rate, Prime will remain at 3.20%
Great news for all the variable rate mortgage holders. Prime will remain at 3.20%. You can start your happy dance now. The next scheduled date for announcing the overnight rate target is December 6 2017. Press release
New stress test for uninsured mortgages as of January 1, 2018
The Office of the Superintendent of Financial Institutions Canada (OSFI) has thrown down the gauntlet once again. If you were planning on purchasing real estate with a down payment of 20% or more, you might want to consider doing it…
Relationship? Are your major financial assets protected?
I have first hand knowledge of what benefits written documentation can provide when a relationship dissolves. A great article that everyone should read. CP Are your major financial assets protected as you enter into a serious relationship?
Bank of Canada increases overnight rate, Prime will rise to 3.20%
The Bank of Canada has decided to increase the overnight rate today. Prime will now increase to 3.20%, up from 2.95%. The next scheduled date for announcing the overnight rate target is October 25, 2017. Press release
Are more changes coming to the mortgage world?
This article has some good insight on what may become reality. One thing for sure, current mortgage rates are still at historical lows. If you are thinking about purchasing real estate, now might be better than later. http://www.bnn.ca/realtors-brace-for-next-mortgage-crackdown-amid-shadow-banking-fear-1.827890
Bank of Canada increases benchmark qualifying rate to 4.84%
The Bank of Canada has increased the benchmark qualifying rate 0.20% to 4.84%. All insured or insurable mortgages use the benchmark rate to qualify borrowers. The benchmark rate is used to ensure borrowers can handle their payments in the event…
Bank of Canada increases overnight rate, Prime will rise to 2.95%
The Bank of Canada has decided to change the overnight rate today. Prime will now increase to 2.95%. The next scheduled date for announcing the overnight rate target is September 6 2017. Press release