Posts tagged with: 2016

Tougher Rules for Insured Mortgages in Canada

This week Canada’s Finance Minister announced tougher qualifying rules for insured mortgages. As of October 17, 2016 insured buyers will qualify to borrow much less. Under the old rules, buyers could borrow more money because they could qualify for an insured mortgage using a full discounted rate for 5 years, provided they took the 5-year Fixed [&hellip

New Property Transfer Tax – B.C.’s Real Estate Market

As of August 2, 2016, any home purchased in Metro Vancouver by a foreign buyer will be subject to the Property Transfer Tax (PTT), a new 15% tax by the B.C. government. The tax legislation is part of the B.C. government’s efforts to relieve pressure on Metro Vancouver’s overheated residential real estate market, and address low vacancy [&hellip