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Not the Lenders.

Positive signs emerge in local real estate markets

Home sales in Canada appear to have successfully pulled out of the dive they went into back in July of last year. That was when the federal government tightened mortgage rules, reducing the maximum amortization period to 25 years. The January figures from the Canadian Real Estate Association show sales edged higher compared to December, increasing 1.3% in this traditionally slow sales period. The associationís numbers show half of the countryís local markets experienced increases, including Greater Toronto and Greater Vancouver. Toronto rose 5.6% month-over-month and the battered Vancouver market saw a 4.7% m/m improvement.

20 Feb 2013

Finance Minister, Flaherty, Tightens Mortgage Rules in an Attempt to Avert Bubble

When it comes to insured mortgage lending in Canada, 25 is the new 30. Additionally, the maximum a homeowner can borrower against their property is 80% as opposed to 85%. It is interesting to consider that as of 2007 homeowners were able to obtain 40-year amortization. However, Flaherty has cut the maximum amortization down twice since 2008. One could assume that Flaherty is concerned that low borrowing costs could fuel a housing bubble. Shorter amortizations influence an individualís ability to qualify for a higher mortgage because the payments are more.

21 Jun 2012

Fort McMurray Mortgage Broker

We are growing! Iím pleased to announce that I have expanded my mortgage service into the Wood Buffalo and Fort McMurray area. I have been fortunate to work with many kind clients in this area, and look forward to continued presence in Fort McMurray. As a mortgage broker serving Fort McMurray, I am a licensed and regulated professional with direct underwriting relationships to both lenders and my clients.

15 May 2012
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