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    • Posted 5 Year Rate Confirmed As New Qualifying Rate
    • 06MAR
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      Posted 5 Year Rate Confirmed As New Qualifying Rate

      It has now been confirmed that the new qualifying rate, effective April 19, 2010, for all CMHC insured mortgages will be as follows: The greater of the chartered bank’s posted 5 year term rate or the contract rate. This will apply to all variable rate mortgages and for fixed rate terms under 5 years. We were

      • Posted by Wayne Mah
      • Bank of Canada
      • First-Time Buyers
      • Market Update
      • Mortgage Rates
      • Opinion
      • Refinance or Renewals
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    • 16FEB
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      New rules: Not as bad as speculated

      As widely reported yesterday, Minister of Finance Jim Flaherty tightened the rules on qualifying for a mortgage today. It was not as bad as many had feared (increasing the downpayment to 10% etc.) but it will definitely still have an effect on the overall housing market. Here are the rule changes: 1. Regardless of mortgage

      • Posted by Wayne Mah
      • Bank of Canada
      • First-Time Buyers
      • Market Update
      • Mortgage Rates
      • Opinion
      • Real Estate
      • Refinance or Renewals
      • Rental or Investment Properties
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    • 15FEB
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      Tighter mortgage rules coming tomorrow

      According to multiple news reports Finance Minister Jim Flaherty is expected to announce new rules for mortgage financing in Canada in hopes of preventing households from getting into trouble when interest rates rise. The early reports speculate that there will be a “means test” for insured mortgages and possibly reducing the maximum amortization from 35

      • Posted by Wayne Mah
      • Bank of Canada
      • First-Time Buyers
      • Market Update
      • Real Estate
      • Rental or Investment Properties
      • Self-employed
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    Wayne Mah, A.M.P.

    wayne@citywidemortgage.ca
    T: 604-880-1899
    F: 604-257-2605

    Contact Info

    • 103-1245 West Broadway
      604-257-2600
    • Vancouver, BC
    • V6H 1G7

    cwf@citywidemortgage.ca

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