This Month in Real Estate - Keller Williams International Canada’s economy continues to remain stronger than many other major national economies, and is affirmed by the Bank of Canada’s first rate increase since the beginning of rate cuts in 2008.Cana As rates begin to rise, experts believe the housing market is poised to soften. Incomes rise [...]
Tag Archives | mortgage terms
More on the new CMHC Mortgage Rules for Real Estate
My friend Jeff Zabel with Mortgage Alliance Canada’s Mortgage Choice in Kitchener Waterloo just sent me some more info on CMHC’s new mortgage regulations for homeowners and property investors: 1) All changes are effective April 19, 2010 with exception to change # 7 & 8 2) Qualifying rate – For loans with fixed term of [...]
CMHC Mortgage Regulations to Restrict Real Estate Investment
I’ve been hearing rumours recently that CMHC was changing their financing criteria for real estate investment properties. Over the last couple of weeks,we’re heard about raising the minimum downpayment (New Mortgage Rules for Real Estate Investment in Canada) that an investor would need to put down on a rental property (that wasn’t owner-occupied, meaning the [...]
New Mortgage Rules for Real Estate Investment in Canada
My wife and I are in the Carribean this week doing some research, so posting has been light. However, I want to pass along a few articles my friend Jeff Zabel, with Mortgage Alliance in Kitchener Waterloo emailed to me. They are about changes to the mortgage rules, and will affect real estate investors: This [...]
Flaherty to public: Hold on, I’m thinking, watching and monitoring real estate market
Canadian Government still looking at shorter mortgage amortizations on real estate purchases, but no indication of decision yet So much talk, so little action. Typical of a government, so I probably shouldnt be surprised On December 22 I wrote Flaherty comments further on Canadian Real Estate and Mortgages and on Janaury 13 I reported in [...]
What is the Bank of Canada doing with mortgage rates?
Many people are speculating that the Bank of Canada will be raising rates. While the consensus amongst those I speak to is that rates have nowhere to go but up (and we are closing on a loan with a 2.4% interest rate on friday, so that’s a pretty solid perspective), the question seems to be [...]
Flaherty talks more about Canadian Real Estate & Mortgage Markets
Yesterday we looked at reports from Ottawa that Finance Minister Jim Flaherty was looking at tightening up mortgage regulations, specifically increasing the minimum down payments and reducing the maximum amortization periods (currently 5% and 35 years). This morning Bloomberg has more from Flaherty (but still no specific proposals): Flaherty, in an interview today, said recent [...]
Ottawa hints at tighter mortgage regulations
From the Globe & Mail today: Hints by Finance Minister Jim Flaherty that Ottawa may tighten mortgage eligibility rules to avert a possible housing bubble sent ripples through the industry Monday, with analysts urging a cautious approach to avoid damaging the economy. Mr. Flaherty told CTV’s Question Period that one thing the government will likely [...]
