New Year, New Mortgage Rules: Why You’ll Soon Have a Harder Time Qualifying for a Mortgage
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New Year, New Mortgage Rules: Why You’ll Soon Have a Harder Time Qualifying for a Mortgage

In 2018, new Ontario mortgage applicants likely won’t be able to afford the same home, as stricter mortgage rules come into place. And while those with a fixed rate mortgage are not impacted by interest rate increases implemented by the Bank of Canada, their affordability will be affected as well. For example… Continue reading »

OSFI’s New Mortgage Rules: Why Homebuyers Should Apply Now
Buying A Home / Economic News / First Time Home Buyers / Mortgage News / Mortgages / Refinancing and Renewing / Your Budget

OSFI’s New Mortgage Rules: Why Homebuyers Should Apply Now

Effective Jan. 2018, all Canadians applying for a new mortgage will be subject to a stricter stress test to assess if they could still make mortgage payments in the event interest rates rise. The new guidelines will reduce how much you can afford… Continue reading »

The Cost of Buying Vs. Renting in Ontario: Infographic
Buying A Home / First Time Home Buyers / Home Ownership / Mortgages / Personal Finance / RSM News / Your Budget

The Cost of Buying Vs. Renting in Ontario: Infographic

Following the announcement of the Ontario Fair Housing Plan this past April, and two key interest rate hikes there after, property prices have definitely decreased, making many people wonder if they should buy or rent a house. See how the costs stack up against each other… Continue reading »

What OSFI’s Tightened Rules on Uninsured Mortgages Means for Homebuyers
Buying A Home / First Time Home Buyers / Home Ownership / Mortgage News / Mortgages / Refinancing and Renewing / RSM News

What OSFI’s Tightened Rules on Uninsured Mortgages Means for Homebuyers

The Office of the Superintendent of Financial Institutions (OSFI) is proposing stricter rules on uninsured mortgages that could have an even more profound effect on the housing market. Will house prices decrease? Will there be less competition? Continue reading »

What Does Ontario’s Housing Plan Mean for Home Buyers and Renters?
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Lifestyle News / Mortgage News / Personal Finance / RSM News / Selling Your Home

What Does Ontario’s Housing Plan Mean for Home Buyers and Renters?

Facing rapidly rising home prices in the GTA, last month the Liberals introduced a 16-point plan to cool the red-hot real estate market. Ontario’s Fair Housing Plan includes a number of measures to address the escalation of home prices in…
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Ontario’s Fair Housing Plan Announced to Cool GTA Housing Market
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Mortgage News / RSM News

Ontario’s Fair Housing Plan Announced to Cool GTA Housing Market

It’s no secret that Toronto’s real estate market is rising at an alarming rate. Just in the month of March, it was announced that the average home price increased by 33.4 per cent, year-over-year. The average price for a detached home in Toronto currently sits at $1.21 million. In response, Toronto Mayor John Tory, Federal … Continue reading »