Before I get into it allow me to say that I LOVE the great publicity as a result of this change. We needed some good news for consumers and we got it. Without further ado… A new Benchmark Rate for insured mortgages will replace the Bank of Canada 5-Year Benchmark Posted Rate in determining the minimum qualifying rate (stress test). The new Benchmark Rate will be: The weekly…

What Does The 2019 Budget Really Mean For Real Estate In Canada? Wow! I had time blocked the Liberal Budget Announcement with anticipation of hearing some great news…boy was I disappointed. I was hoping to hear about tax cuts on both the personal and business side to help make Canada competitive yet again…nothing. I was hoping to hear that relief was on the way for those looking to…

Two weeks ago I did a presentation at a Real Estate office to discuss the mortgage Stress Test and what the Government might be looking to do. It’s an election year and our industry association, Mortgage Professionals Canada, has been lobbying hard and advocating on behalf of both the consumer as well as industry members and more recently you might have heard the Federal Government say that they…

Are you or someone you know still trying to time the housing market? If you are still sitting on the fence, I feel compelled to share a few insights. It is no secret our Government put in policies to slow the growth of the housing market. While some consumers have been sitting on the sidelines waiting for prices to drop, interest rates have continually increased. Our Governments efforts…