Archive for the ‘Government Related’ Category
Mortgage planners can take a very slight sigh of relief. Finance Minister Jim Flaherty said the Finance Department has “no intention of changing tax policy” on financial services. In response...
Tags: Department, finance, finance department, finance minister jim flaherty, financial services, intention, Minister Jim Flaherty, mortgage, mortgage planners, policy, relief, response, sigh, sigh of relief, tax
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The Independent Mortgage Brokers Association of Ontario (IMBA) calls the potential 13% HST on broker commissions “the most pressing issue facing mortgage agents and brokers right now.” It emailed an...
Tags: Association, broker, broker commissions, HST, IMBA, Independent, independent mortgage brokers, issue, mortgage, mortgage agents, mortgage brokers association, mortgage brokers association of ontario, Ontario
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Effective April 19, all high-ratio insured mortgages that have a variable rate or a fixed term under five years will be qualified using the greater of: the chartered bank 5-year...
Tags: April, bank, Effective, high ratio, insured mortgages, rate, term, variable rate, year
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The federal budget has just been announced. Below are some of the implications for the mortgage market: Pre-payment Penalties: The government will “bring forward regulations” to standardize the calculation and...
Tags: Below, budget, calculation, disclosure, federal budget, government, list, market, mortgage, mortgage market, payment penalties, Penalties, Pre-payment
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Just in from an official at the Finance Department: “The Government will provide additional details shortly” on which rate will be used to qualify mortgages starting April 19. That, of...
Tags: additional details, April, Department, finance, finance department, government, mortgages, official, rate
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Yesterday’s mortgage rule changes sparked as many questions as answers. Here’s what we know (to the best of our knowledge) at this point. The quotes come from an insurer memo...
Tags: insurer, knowledge, memo, mortgage, Point, quotes, rule, rule changes, to the best of our knowledge, yesterday
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On April 19 our government will lay down three major rule changes to “prevent” a housing-price bubble and keep homeowners from getting “overextended.” Here is the official announcement from today:...
Tags: announcement, April, bubble, government, official, rule, rule changes, Today
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Various media are reporting that the Finance Department will announce new mortgage qualification rules tomorrow (Tuesday, February 16). Among the possible rumoured changes: An “income test” to ensure people can...
Tags: Department, February, finance, finance department, income, income test, mortgage, mortgage qualification, new mortgage, qualification, qualification rules, test, tomorrow, Tuesday
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From the rumour-mill: Sources say the Finance Department is considering mortgage qualification rule changes, which could potentially be announced with its March 4 budget. (We’ve found no confirmation on this.)...
Tags: budget, confirmation, finance department, mortgage qualification, rule changes, rumour mill
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According to unnamed sources, the heads of the Big Six banks met with the Bank of Canada’s Mark Carney on Nov. 25. That’s according to this Globe & Mail article....
Tags: article, bank, bank of canada, banks, Big, big six, Canada, Globe, globe mail, Mail, mail article, Mark Carney, Nov, unnamed sources
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