Will rising mortgage interest rates affect your mortgage qualificaiton? It is very possible. As rates go up, so too does the stress test rate that I have to use. The stress test is the greater of 5.25% or the contract rate + 2%. For example, if you are wanting a fixed...
VARIABLE RATE MORTGAGE HOLDERS If you are currently in a variable rate mortgage, I wanted to give you this update prior to the next Bank of Canada meeting July 13th! At this point, we can fully expect a 75 basis point hike, the highest we have seen in decades, taking...
When you think of getting a mortgage, do you think instantly of going to the bank? If you’re like most people, this will be the case. However, CREDIT UNIONS offer some UNIQUE ADVANTAGES that can often have my borrowers qualifying for more mortgage when they...
Recent Comments