author Call Broker of Record: 416-893-8530

Compare Listings

New Mortgage Regulations

New Mortgage Regulations

New Mortgage Regulations

Please note new regulations to be implemented by the Government are expected to come out next month.  These new rules will affect all borrowers when purchasing, refinancing, renewing, or transferring their mortgages.  Last October, high ratio and insured mortgages have been subjected to “stress test” and higher “qualifying rate”.  The Government is looking to extend these rules to uninsured conventional mortgages (borrowers with 20% down-payment or more) which would result in lower approved mortgage amounts for home purchasers/owners.

In addition, both prime rates and bond yields have been on the rise resulting in higher variable rates and fixed rates.

Related posts

Future of Canadian Interest Rate

The Bank of Canada’s decision to hold interest rates at 1.75% was not unexpected; neither is...

Continue reading

Cautious buyers will push Toronto rents up 11% in 2019

Canadian landlords will be increasing rents in 2019 as strong demand for rental housing continues...

Continue reading

Just one interest rate rise in 2019 most likely says BCREA

Just a few months ago economists were predicting that the Bank of Canada would take a bullish...

Continue reading

Join The Discussion