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Jul
13
Tarek Mnaimne has been considering dipping his toes into the Canadian real estate market, particularly in Toronto or Montreal, but the rate hike from the central bank is giving him pause. “It just doesn’t look as attractive as it used to,” says Mnaimne, a Canadian expat currently working in Kuwait City as an investment analyst. […]
Apr
5
Questions about the Mortgage Qualification Process How is a loan application assessed? Most lenders base their affordability calculations on two traditional debt to income ratios. First, your Gross Debt Service Ratio (GDSR) is based on your monthly housing costs, including mortgage payments, property taxes, heating costs, and 50% of applicable condo fees. Lenders prefer that […]
Oct
14
Change of Space The Mortgage Centre Oct 12 2016 Why is the Department of Finance implementing these new changes? These new regulations are aimed at protecting the financial security of Canadians and supporting the long term stability of the housing market in Canada. CHANGE: Mortgage Rate Stress test to all insured Mortgages What is it? […]
Rate hike has immediate effect on consumers
Tarek Mnaimne has been considering dipping his toes into the Canadian real estate market, particularly in Toronto or Montreal, but the rate hike from the central bank is giving him pause. “It just doesn’t look as attractive as it used to,” says Mnaimne, a Canadian expat currently working in Kuwait City as an investment analyst. […]