“New mortgage rules continue to keep a lid on national sales activity,” said Wayne Moen, president of the Canadian Real Estate Association said Monday in releasing the number of homes sold across all major Canadian markets last month. “That said, national figures mask diverging trends in different markets, with activity down in some places [...]
The government confirming it will now lower the maximum amortization on a CMHC insured mortgage to 25 years and cap refinances at 80% LTV. Further CMHC will set a $1-million cap on the value of homes eligible for government-backed insurance and will not approve borrowers if their maximum gross debt service (GDS) ratio exceeds 39% [...]
The average resale condominium apartment price in Ottawa is currently hovering around the $290,000 mark and commanding a monthly mortgage carrying cost, not including condo fees, upward of $1,450. Since the average two bedroom rent for privately initiated apartment units remained 25 per cent more affordable, some young households are remaining in rental accommodation longer. [...]
BOC 1% Interest Rate unchanged for 2 years
CMHC lending rules are changing!
8 Points to Consider Before You Invest in Condominiums
Will Flaherty pull CMHC out of the mortgage insurance business?
Tighter mortgage rules appeared to push home sales down by 15 per cent from a year ago
BOC 1% Interest Rate unchanged for 2 years
CMHC lending rules are changing!
8 Points to Consider Before You Invest in Condominiums
Will Flaherty pull CMHC out of the mortgage insurance business?
