How does credit card debt affect a mortgage application?
If you’re shopping around for a mortgage, you probably already know that lenders ask for a ton of financial information before determining how much you can borrow. That list includes your household income, down payment amount and how much ...
Posted by Kim Ziebell on April 13, 2021 in Buying a Home
OSFI considers changing uninsured mortgage stress test
On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usually, mortgages with a 20% down payment do ...
Posted by Kim Ziebell on April 12, 2021 in Buying a Home
March Resales Go Out Like a Lion
Members of the Ottawa Real Estate Board sold 2,285 residential properties in March through the Board’s Multiple Listing Service® System, compared with 1,514 in March 2020, an increase of 51 per cent. March’s sales included 1,705 in ...
Posted by Kim Ziebell on April 9, 2021 in Market Updates