June 6th, 2020
Qualifying for a mortgage is about to get harder for anyone who doesn’t have at least a 20 per cent down payment for a home, which is likely to have an outsized effect on first-time buyers.
Canada Mortgage and Housing Corporation (CMHC) is tightening its rules to qualify for an insured mortgage. [read more]
July 7th, 2017
Canadians are starting to take note that the key number determining how much they pay for a mortgage is very likely going to soon go up. "My email is exploding right now," says Ryan McKinley, senior mortgage development manager at Vancity Credit Union. For those looking to buy in the near-term, McKinley says now is the time to lock in a mortgage rate, which financial institutions generally do for between 90 and 120 days. [read more]