New mortgage rules could affect what you qualify for by 20 points: OneStreet Mortgage
Posted on
October 4, 2016
by
Norm Fisher, Royal LePage Vidorra
This yesterday from our friends at OneStreet Mortgage.
"Effective October 17, 2016, all insured homebuyers must qualify for mortgage insurance at an interest rate the greater of their contract mortgage rate or the Bank of Canada’s conventional five-year fixed posted rate. This requirement is already in place for high-ratio insured mortgages with variable interest rates or fixed interest rates with terms less than five years. What does this mean for the average household?"
More on the OneStreet Mortage blog,
here.
I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.
Norm Fisher
Royal LePage Vidorra
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