There are some new mortgage rules that are coming into effect starting on January 1, 2018 from the Office of the Superintendent of Financial Institutions, and they go beyond the “stress testing” we’ve already heard about.
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Toronto Real Estate & Fine Living
Toronto Real Estate & Fine Living
The last patches of snow are melting away and the slow warm up in weather has also impacted the slow warm up in the spring real estate market. Last year the market was in full swing by mid-end of February and this year it is only recently that we are starting see some quality listings hitting the market. Inventory is still low and housing prices have inched up another 3+% on average from this time last year (Canadian Average).
Read MoreGlobe Investor asked the question today whether it’s “Too soon to bet against a variable-rate mortgage?”
In the story, Preet Banerjee writes, “Academic studies indicate that the best predictor of future interest rates is the current yield curve. Based on that, interest rates are going to be pretty low for the foreseeable future. Add in some shallow discounting off prime for variable-rate mortgages and it’s easy to see why almost everyone is opting for fixed-rate mortgages these days.”
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