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by Jeremy
The mortgage industry has been abuzz this past month with major changes taking place and other notable news. If you’re confused about what has changed and how it will affect you, here’s a quick breakdown. Mortgage stress tests on insured mortgages: stress tests will be used for approving high-ratio mortgages on insured mortgages (less an 20 per cent down). This is to assure lenders that home buyers could still afford mortgages if rates increased or their financial situations changed. The test also requires home buyers don’t spend more than 39 per cent of their income on home costs. This is in effect, as of October 17th.…
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Posted by Jeremy
In case you missed the big Brexit story this past week, there was a big referendum held last…
Posted by Jeremy
Genworth Financial recently released their spring/summer report for 2016, and it broke down the housing and mortgage trends…
Posted by Jeremy
Earlier this week, CAAMP (Canadian Association of Accredited Mortgage Professionals) released thier annual State of the Residential Mortgage…
Posted by Jeremy
New data from the National Housing Survey has been released today, and in case you’re not interested in…
Posted by Jeremy
The Canadian Association of Accredited Mortgage Professionals (CAAMP) recently released their spring market survey, which provides a lot…
Posted by Jeremy
In a recent Manulife Bank of Canada survey, almost half of Canadians have a misunderstanding about what debt…
Posted by Jeremy
Starting tomorrow, homebuyers without a 20% down payment, will be paying more to purchase a home. Canada’s largest…
