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May
11
Looking to buy a home or refinance your existing Mortgage? How will the new Mortgage Rules impact you? I can help you understand how the Mortgage Qualification Rules apply to your unique situation, and provide you with a financing solution built around your personal needs. Apply for a Mortgage Approval Online: Click Here Printable Mortgage […]
May
11
Effective May 14, 2018, the Bank of Canada is changing its 5 Year Benchmark Qualifying Rate to 5.34% from 5.14%. What you need to know: The 5-year benchmark qualifying rate or “STRESS TEST“, published by the Bank of Canada, was put into legislation mainly to ease affordability concerns and mitigate the payment shock that may […]
Nov
17
On October 17 2017, the Office of the Superintendent of Financial Institutions (OSFI) introduced new rules on Mortgage Lending. The changes will go into effect on January 1, 2018, and will require conventional mortgage applicants to qualify at a new minimum rate, or “stress test” for uninsured mortgages. The new qualifying rate will be based […]