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Mortgage qualification rules changing Oct 17th

Blog by Viki Fairbairn | October 8th, 2016

Effective October 17th all buyers needing an insurable mortgage will  now have to qualify under the new government rules at the Bank of Canada rate of 4.64%. This will have a huge impact on buyers who originally were pre qualified at a lower interest rate. This will affect the sale price of a home you were hoping to buy. If you have any questions on this at all, please contact me and I'd be happy to answer them for you. You can also connect with one of the mortgage brokers on my team (find their contact info under "Resources' here on my web site)