Archive for: November 2017

Liberals unveil affordable housing strategy

Filed under: Mortgage - 27 Nov 2017

THINK OUTSIDE THE BOX: The government announced Wednesday (Nov 22) a 10-year, $40 billion National Housing Strategy aimed at improving housing affordability for Canadians.

“Everyone deserves a safe and affordable place to call home. Canada’s first ever National Housing Strategy is a …

Markets might be underestimating impact of new rules

Filed under: Mortgage - 27 Nov 2017

THINK OUTSIDE THE BOX: Although consumers have begun bracing themselves for possibly higher household expenses once tighter mortgage regulations take effect, an independent equity research firm has warned that Canadian markets might be underestimating the impact of these new rules.

In …

Stress test rule to have most effect

Filed under: Mortgage - 20 Nov 2017

THINK OUTSIDE THE BOX: Buyers need to qualify at higher-than-posted mortgage rates as of Jan. 1, 2018

Three new mortgage regulations that will change the borrowing and lending landscape in Canada take effect on Jan. 1, 2018.

The regulations are:

1: A new …

Tie new affordable housing money to outcomes, former watchdog tells Liberals

Filed under: Mortgage - 20 Nov 2017

THINK OUTSIDE THE BOX:  Parliament’s first budget watchdog is warning the federal government to be careful how it spends billions in new housing money over the next decade to ensure it actually makes a lasting impact.

In an analysis published today, former …

OSFI’s rule changes will hurt small towns

Filed under: Mortgage - 13 Nov 2017

THINK OUTSIDE THE BOX: In a bid to quell rising prices in the Vancouver and Toronto markets, the government may be causing irreparable damage in smaller cities and towns across Canada with mortgage underwriting rules, set to take effect January …

Brokers fielding panic calls ahead of January 1

Filed under: Mortgage - 13 Nov 2017

THINK OUTSIDE THE BOX: With new mortgage lending rules about to kick in, brokers’ phones are ringing off the hook with frenzied queries about refinancing—and even purchasing—homes before January 1.

Steve Garganis, a mortgage broker with Mortgage Intelligence, began reaching out …

These Canadian cities have some of the most affordable homes in North America

Filed under: Mortgage - 07 Nov 2017

THINK OUTSIDE THE BOX: The latest Bloomberg Global City Housing Affordability Index revealed that 7 out of the 10 most affordable global cities in terms of home prices are in North America, with 3 of these being in Canada.

The Bloomberg …

The Bank of Canada’s key interest rate could hit 3% by 2019

Filed under: Mortgage - 07 Nov 2017

THINK OUTSIDE THE BOX: Canada’s robust economy is expected to slow to a more normal pace next year. It’s also likely that the Bank of Canada (BoC) will gradually hike its key interest rate until it hits 3% in 2019, according …

CMHC: Five major housing markets are in the ‘red zone’

Filed under: Mortgage - 02 Nov 2017

THINK OUTSIDE THE BOX: Five Canadian markets continue to have “a high degree of market vulnerability,” according to a new report from the Canada Mortgage and Housing Corporation(CMHC).

The Crown corporation has singled out Victoria, Vancouver, Saskatoon, Hamilton, and Toronto as …

Homebuyers beware

Filed under: Mortgage - 02 Nov 2017

THINK OUTSIDE THE BOX: While it’s unlikely the next interest rate hike, expected December 6, will be too cumbersome for homeowners, especially those on fixed-rate mortgages, prospective homebuyers will feel the heat.

According to Brad Henderson, president and CEO of Sotheby’s International …

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