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Blog by Micah Verceles

A little less stress in the test

February 24th, 2020
The federal government has announced its response to the rising chorus that has been calling for changes to the mortgage stress test. It is small but it is, generally, being well received.

Starting in April the qualifying rate for the stress test on insured mortgages (usually those with less than 20% down payment) will be based on the weekly median 5-year fixed insured mortgage rate, plus 2%. ...

Ottawa unveils new mortgage stress test rules that will make it easier to pass

February 19th, 2020
Starting in April, the government will change the rules that cover mortgage lending in a way that should, in the short term at least, make it easier to qualify for a loan to buy a home.

The Department of Finance says that as of April 6, the so-called "stress test" for mortgages will be calculated in a new way.

The stress test was implemented in January 2018 as a way to let some of the specula ...

Think B.C. has a lot of housing regulations? You ain't seen nothing

February 18th, 2020
The world’s most populous countries, India and China, don’t allow any non-resident foreign nationals to buy their real estate.

The city of Berlin just moved to protect 1.5 million tenants by freezing most rents for five years. The Netherlands is cutting back on sudden reno-victions by making sure 70 per cent of an apartment building’s tenants agree before landlords makes improvements.

In Cana ...

Growth From Alternative & Private Lenders

February 13th, 2020
The latest check-up on Canada’s residential mortgage industry shows the influence of alternative lenders continues to grow.

Canada Mortgage and Housing Corporation estimates that alternative mortgage lenders headed into 2019 with a market size of between $13 billion and $14 billion. That is up significantly from the $8 billion to $10 billion, estimated in 2016.

It is a small share of the over ...

CEO of CMHC Stepping Down

February 10th, 2020
One of the biggest influencers in the Canadian housing industry will be gone by the end of this year.

Evan Siddall, President and CEO of Canada Mortgage and Housing Corporation, has announced that he will not seek to renew his term. There is no firm date for his departure but Siddall’s current term is up at the end of 2020.

Siddall has been a polarizing figure since he was appointed to the jo ...

The Real Estate Board of Greater Vancouver - January 2020 Stats

February 4th, 2020
Home sale and price activity remained steady in Metro Vancouver* to start 2020 while home listing activity declined in January.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,571 in January 2020, a 42.4 per cent increase from the 1,103 sales recorded in January 2019, and a 22.1 per cent decrease from the 2,016 homes sold in Dece ...