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Toronto Real Estate Board Takes it up to Ottawa to Loosen up on Mortgage Rules

Monday Mar 25th, 2019

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Toronto Condo Team

  Last month, the Toronto Real Estate market experienced its steepest monthly sales decline in a year. The city’s realtor board is of the opinion that the revised mortgage rules are the culprit behind the decline in sales and need to be reviewed before they keep more buyers on the sidelines. According to reports by the Toronto Real Estate Board on Tuesday, sales fell 7.7 per cent to 6,212. Benchmark prices, which vary from home type to home type, climbed 0.8 per cent from the... [read more]

Key Things to Know About Latest Mortgage Stress Test

Tuesday Apr 17th, 2018

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On 1st January 2018, new and tighter mortgage regulations are released out. Now, it is the time to put light on what this is for you people. Before, October of the year 2016 government deployed latest mortgage rules, which are most commonly called ‘stress tests’. These stress tests required for each and every insured mortgage to be given approvals by the posted and set of rate 4.46 percent by the Bank of Canada. Now, it is being introduced for the un-insured mortgages and which is... [read more]

Trends of Canadian Mortgage Rates in 2017- Expert Views

Monday Apr 03rd, 2017

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Bond yields are not going to fluctuate, so there is no rise expected in fixed rates. However, as money lenders and banks will now adjust pricing to live up to new regulations announced on 1st of Jan, 2017, many borrowers will end up paying extra for their next mortgage. During the last month, yields were retracted partially. Mortgage rates also accompanied bonds higher, but partially. Therefore, unless there is a drop in bond yields, there is no scope for the mortgage rate to increase even a... [read more]

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