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Feb
19
Minister of Finance, Bill Morneau, announced changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages, also known as the “stress test.” These changes will come into effect on April 6, 2020. The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, […]
Jan
16
Ontario Land Transfer Tax Commencing on December 16, 2017, new provincial land transfer tax statements are being incorporated into Teraview, Ontario’s electronic land registration system. Corresponding statements have been added to Ontario’s affidavits and forms. When you buy land or an interest in land in Ontario, you pay Ontario’s land transfer tax. Land includes, but […]
Sep
6
HELPING MAKE HOME-OWNERSHIP MORE AFFORDABLE The First Time Home Buyer Incentive(FTHBI) is a new shared equity mortgage plan in which the Government of Canada provides money to help you make a downpayment on a home, in exchange for equity in your home. When you sell your home, you will pay back the equity share the […]
ONTARIO LAND TRANSFER TAX
Ontario Land Transfer Tax Commencing on December 16, 2017, new provincial land transfer tax statements are being incorporated into Teraview, Ontario’s electronic land registration system. Corresponding statements have been added to Ontario’s affidavits and forms. When you buy land or an interest in land in Ontario, you pay Ontario’s land transfer tax. Land includes, but […]