New mortgage stress test rules coming June
As of June 1st, Canadians seeking an uninsured mortgage – aka mortgages with a down payment of at least 20% – will need to pass a stricter stress test and prove they can afford payments at a higher qualifying rate.
The Office of the ...
Posted by Fiona Simard on May 25, 2021 in Buying a Home
How to get Pre-Approved for a Larger Mortgage
House hunting is a funny thing – you can go in thinking you know exactly what kind of place you want, but then a home unexpectedly blows you out of the water! That’s a wonderful experience, but it can be a challenge to your budget.
Posted by Kim Ziebell on May 11, 2021 in Buying a Home
April’s Resale Market Starts Strong and Sputters
Members of the Ottawa Real Estate Board sold 2,402 residential properties in April through the Board’s Multiple Listing Service® System, compared with 911 in April 2020, an increase of 164 per cent. April’s sales included 1,859 in ...
Posted by Kim Ziebell on May 5, 2021 in Market Updates