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Mortgage rule announcements and how it affects you
What changes were announced today? Insured mortgages will be qualified at 5-year benchmark rate of 4.64% You will now need to be qualified for a 5 year fixed mortgage as if you were getting a rate of 4.64%. Talk about pulling out a jackhammer where a chisel was needed! If you are currently buying a…
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15% property transfer tax on foreign buyers – what next?
Some trends to look for in real estate in the coming months Wow! I honestly did not see this day coming…it must have been the last 6 years of writing about it consistently…they are listening to me! Or not. I simultaneously had both the reactions “They finally did something about this” and “This seems heavy handed.”…
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Why is the real estate market in the Greater Vancouver Area going crazy?
Here is another reason, and its one that is largely overlooked On my website, since mortgages are so BORING for people to read about, and subjectively painful to enter into, most of what I write about centres around two things: 1) Government regulation of the mortgage lending rules making it difficult for the average resident…
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Reflections on a hot housing market
Looking forward at housing by looking back at housing If you think back ten years ago, did you find housing overpriced? Looking back, if you did not buy a home then or since, do you wish you had? If you did buy, aren’t you glad you did? If you look at the market today, do…
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Cash in on your property values with a refinance!
If you have followed my blog for a while, I think you would understand me saying that I find it difficult to come up with interesting original material to provide. I mean…I am selling getting into the biggest DEBT that most people will ever likely incur, and I talk about a local housing market that…
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Toronto home prices “push the boundary”: BNN
There is a video on the BNN website in which they interview an economist with Mortgage Brokers Canada. He talks about the hot housing market in Toronto (which is the second hottest home market in Canada to Vancouver) among other things. One of the primary aspects of the hot market that he talks about is…
