OSFI’s rule changes will hurt small towns

13 Nov 2017
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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

13 Nov 2017
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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

07 Nov 2017
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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

07 Nov 2017
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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’

02 Nov 2017
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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

02 Nov 2017
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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 …

How OSFI’s new mortgage rules will affect home affordability

01 Nov 2017
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THINK OUTSIDE THE BOX: It’s about to become tougher to qualify for a mortgage.

Canada’s banking regulator published final guidelines for its mortgage qualification rule on Oct 17, which impose tighter standards on the uninsured market. Lenders will soon be required …

Growing Trend: Buying Real Estate with Family and Friends

26 Oct 2017
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While it’s fairly common for those in tight rental markets to have a roommate to help split the rent, an emerging trend is buying real estate with a family member or friend.

Faced with high home prices in big cities and …

Bank of Canada holds rate, suggests more hikes likely at more cautious pace

25 Oct 2017
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The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace.

In its scheduled announcement, the central bank said it held off this time in …

Video: Time to choose

19 Oct 2017
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Contact Garth to see how much different a mortgage can be

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