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…
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…
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?
Prospective home owners may see their affordability shrink as another set of mortgage rules are slated to go into effect this summer. Here’s what buyers need to know.
Alternative Online Lenders are growing in popularity as steeper mortgage rules prevent some would-be buyers from getting traditional loans. Here’s what you need to know about them.
It’s a season of change for finances as new mortgage and credit card rules come into play. Here’s what you need to know, along with the week’s top headlines.
Mortgage rules B-21 and B-20 received an update this week, as OSFI introduced changes that target income assessment and assets for borrowers. Could this limit your ability to qualify for a mortgage? Read on for the full story.
What is a credit union, and how does it differ from a traditional bank? Should you use the services of a credit union for your mortgage, savings or investing? Read on to learn more about credit unions vs banks.
Attention home buyers: A new round of restrictions has been proposed for the insurers of high-ratio mortgages. Called OSFI B21, they could impact your ability to buy. Here’s what you need to know.
Recent data released by the 2011 National Household Survey shows one quarter of Canadians are spending more than they can afford on their housing. Condos continue to the the choice option for the first time buyer segment, and speculation grows over a new round of mortgage rule changes.