new mortgage rules
The new mortgage "stress tests" are hitting the real estate market where it hurts, but they are a badly-needed move.
The bank reiterates its concerns about Canadians' debt, but sees some signs of improvement.
The Liberals aimed at Toronto, but may have hit the Maritimes instead.
The objective of that policy is to reduce mortgage lending. It means that a potential home buyer who can comfortably afford the costs of buying a home (based on their actual mortgage interest rate, which will usually be less than three per cent) might not be able to get financing, because of a new, very high "stress-test" hurdle (using an interest rate that is currently 4.64 per cent, and far above actual market rates).
B.C.'s home loan program pushes in the opposite direction of federal Liberals.
You sold your house, you survived the move and your boxes are all unpacked -- great job! That can be quite an undertaking, I know. But the work isn't quite done yet. Recently, the government announced important changes that will add an extra step to selling your home -- reporting it.
First-time homebuyers in Canada, you’re going to have to scale back your ambitions. Mortgage site Ratehub has crunched the
Don't say the banks didn't warn you.
Canadian consumer debt is growing a lot faster than Canadian incomes.
Good news for Canadian financial stability, bad news for the house-hungry.