Canadian mortgage rates Archives

Mortgage Qualification Rate Increased For Buyers

If you are looking to buy a home it just became a bit more difficult. New Mortgage qualification rates changed on June 1st over-riding the previous ‘stress-test’ rules. The Government of Canada has in fact changed the qualification rate for all mortgages to be 5.25% as of June 1st– which will effectively reduce the mortgage [&hellip

Mortgage ‘Stress Test’ Rules Becoming More Stringent

The hot housing market has gained the attention of the Government who are now making the mortgage ‘stress test’ rules even more stringent. Proposed changes to mortgage rules could make buying a home even more difficult now. The federal banking regulator is looking at increasing the so-called “stress test” in an effort to cool hot [&hellip

What We Are Doing To Protect Our Client’s Safety

OUR CLIENT’S SAFETY Our client’s safety is a top priority at Re/Max Priscilla. We are taking extra measures to ensure that not only our Realtors and administrators but our clients, stay safe. COVID-19 and the way the virus is transmitted have made us keenly aware of our responsibility our clients, and our community. Buyers are [&hellip

Mortgage Stress Test Changes – What You Need To Know

New Mortgage Stress Test Rules February 20, 2020 This coming April, the government will change the rules that cover mortgage lending. These changes should make it easier to qualify for a loan to buy a home. As of April 6, the so-called “stress test” for mortgages will be calculated in a new way. The stress [&hellip

Bank of Canada Holds Rates

Bank of Canada Holds Rates Again December 4, 2019 – The Bank of Canada kept its key interest rate on hold where it has been for more than a year as ongoing trade conflicts and related uncertainty continue to be a pressure on the global economy. The central bank’s overnight rate target has been set [&hellip

Stress Test Impact On BC Home Sales

Stress Test Impact On BC Home Sales July 16, 2019 Was the B20 Mortgage Stress Test the main cause of home sales across Canada plummeting to start 2018? Were there other factors? The implementation of new federal and provincial housing policies designed to temper the hot BC housing market could have been a cause? Higher [&hellip

RBC Offering Great Mortgage Rates

RBC Offering Great Mortgage Rates April 9, 2019 Well, it finally looks like spring has sprung in the Okanagan and we hope that you are getting outside to take advantage of the beautiful weather. Now it’s your turn to take advantage of some great mortgage rates offered by the big banks! All signs are pointing [&hellip

What do tighter mortgage rules mean for the average buyer?

Tighter Federal Mortgage Regulations On January 1st we watched as Canadian rang in a New Year – and as the Federal Government rolled out its 7th round of mortgage tightening rules since 2008 (wow!). “Effective January 1, new federal mortgage tightening rules require borrowers with a down payment of 20% or more to face a [&hellip

New Minimum Down Payment Rules

Down payment requirements are changing in Canada The housing market is booming in areas like Vancouver and Toronto. Rumors have been circulating for a few weeks but today Finance Minister Bill Morneau made his official announcement. In an effort to maintain a healthy and stable housing market there will be an increase to down payment [&hellip

Posts tagged with: Canadian mortgage rates