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Monday, July 30th, 2018

‘Lifestyle mortgages’ for savvy seniors

There exists a propensity to look at reverse mortgages as only necessary for indebted seniors, but they are also a great way for savvy, well-heeled seniors to buoy their investment portfolios. “The one thing I disagree with is it’s not only a mortgage designed for people to pay off debt,” said Darlene Vilas, a mortgage […]

Vancouver home sales figures for May released

Home sales across Metro Vancouver tumbled last month, when compared with May 2017 and the Real Estate Board of Greater Vancouver says that raises the potential of lower prices for some types of homes. The board says 2,833 properties sold in its region in May, a 35.1 per cent plunge from sales recorded in the […]

Detached sector continues to weigh on this region’s sales

Sales of detached homes in Calgary have declined to levels not since for a decade. Weakness in that property type continues to impact overall sales activity, which in May was down 19% year-over-year and 26% below longer-term averages with total sales of 1,726 units. Calgary Real Estate Board’s latest figures show that the detached sector […]

Property tax hikes the best route for B.C. right now – economist

With Vancouver having the lowest property tax rates nationwide, it’s high time for the provincial government to impose higher real estate taxes to offset outsized price growth, according to a leading economist. In a recent though piece for the Vancouver Sun, CCPA-BC public finance policy analyst Alex Hemingway noted that not even the recently implemented […]

Pressure eases for Fraser Valley homebuyers

Homebuyers in the Fraser Valley region are able to shop for their dream home a little more comfortably as inventory rises. But the increased choice comes as sales continue to decline with Fraser Valley Real Estate Board reporting a 35.1% decrease in May compared to a year earlier. There were 1,758 sales processed through the […]

In Vancouver, non-high-end home buyers bear the brunt

Canadian housing starts surge in November – CMHC

Housing starts for all areas in Canada stood at 226,270 units as of November 2017, according to new data from the Canada Mortgage and Housing Corporation (CMHC). This trend – which was a considerable increase from the 216,642 units in October 2017 – represented the highest level in almost a decade, CMHC chief economist Bob […]

CREA cuts 2017, 2018 forecast due to incoming tighter mortgage rules

The Canadian Real Estate Association says it has cut its home sales forecast for next year due to the impact of tighter mortgage regulations taking effect in the new year, which will erode affordability. The association representing real estate agents across the country also downgraded projections for 2017. It now expects national sales activity this […]

OSFI is reinforcing a strong and prudent regulatory regime for residential mortgage underwriting

October 30, 2017 by  
Filed under Recent News

http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/B20_dft_nr.aspx   News Release For Immediate Release OTTAWA – October 17, 2017 – Office of the Superintendent of Financial Institutions Canada Today the Office of the Superintendent of Financial Institutions Canada (OSFI) published the final version of Guideline B-20 − Residential Mortgage Underwriting Practices and Procedures. The revised Guideline, which comes into effect on January […]

HOW CREDIT AFFECTS YOUR LOAN APPROVAL

HOW CREDIT AFFECTS YOUR LOAN APPROVAL When you apply for a loan, lenders assess your credit risk based on a number of factors. Your credit score, as well as the information on your credit report, are key ingredients in determining whether you’ll be able to get financing and the rate you’ll pay. To get approved […]

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