Hot topics this week are all the govt changes to mortgage lending… but before we get into the bad news, I thought I’d start with some positive news… Interest rates … Continue Reading Part 2 of OSFI’s new mortgage underwriting rules announced
The Harper govt and the Minister of Finance are making it even harder to qualify for a mortgage.. they are also cutting back on how much you can refinance your … Continue Reading Fed govt tightens mortgage rules again… 4th time in 4 years.
THE PHONE CALL RIGHT AFTER THE OCTOBER 2008 U.S. SUB-PRIME MORTGAGE CRISIS It’s November 2008. News of the U.S. Subprime mortgage crisis has just broken out. Panic sets in … Continue Reading Does this sound like your Bank?
Spring is the home buying season. Summer is the mortgage renewal season. It’s been that way for as long as I can remember. Most of us want … Continue Reading Beware of your Bank’s ‘special’ renewal offer…. it could cost you dearly.
The Office of The Superintendent of Financial Institutions (OSFI) announced some interim changes that will affect all mortgage borrowers and also those with Home Equity Lines of Credit (HELOC). Draft … Continue Reading OSFI announcement: HELOCs cut to 65%, partial re-qualifying for mortgages at renewal time..