Starting August 1st, 30-year amortization for FTHBs for insured mortgages (less than 20%) will kick in. If you don’t know, 30-year amortization is available for uninsured mortgages only, or in other words if you put 20% or more down. Excited? Well, the devil is in the details First, CMHC has announced recently to increase its premium by 20 basis points. Again, if you dont know, if you...
Earlier this week, BC Premier David Ebby has announced a proposed legislation to end the 'Outdated Zoning Bylaws'. This has created some noise, but this is not the first time he mentioned about the end of Single-Family Zoning. Actually, in early spring, Mr. David Ebby actually announced this proposal as part of Homes for People plan. Homes for People plan is the end of everything OUTDATED and...
The financial world is never short of twists and turns, and the latest one is sure to leave you intrigued. Picture this: a pause in interest rate hikes, as expected. But why did it happen, and what does it mean for the real estate market? Let's dive into the details. The Backstory: Weakening Economy and Rising Unemployment Before we get into the juicy bits, let's rewind a little. The stage was...