Mortgage Rates

J'ai eu 1.95% 5 ans fixe +3000$ de remise avec BMO. Très satisfait

Je viens d'envoyer ça à mon conseiller BMO! Je lui ai demandé d'essayer plus fort.

J'suis vraiment à veille d'aller checker Hypotheca, même si là j'ai déja le financement final approuvé par la BMO pour notre nouvelle maison.
 
"He's an STM bus driver on disability, she's a holistic cat massage therapist, their budget $830,000"


Ottawa’s mortgage stress test is about to get a little easier.

Mortgage experts expect the Bank of Canada to cut its benchmark five-year mortgage rate to 4.79 per cent from the current 4.94 per cent as soon as this Wednesday, as the majority of the big Canadian banks now have a five-year posted rate of 4.79 per cent. The central bank sets its benchmark according to the rate that appears most frequently among the six biggest banks.

The reduction in the benchmark rate would make it easier for borrowers to get a bigger loan, which would add more fuel to overheated housing markets.

“It will make qualifying easier, or permit some people to borrow fractionally more,” said Paul Taylor, president with mortgage lobby group Mortgage Professionals Canada.

Under the mortgage stress test, borrowers are required to prove they can afford an interest rate that is either two percentage points higher than their actual contract, or at the Bank of Canada’s benchmark five-year mortgage rate – whichever is higher.

The stress test, which first came into effect for insured mortgages in 2016, was designed to ensure that borrowers were not taking on too much debt and to cool the hot housing market. Initially it slowed borrowing and contributed to prices falling in Vancouver.

But now that borrowers have adjusted to the stress test and mortgage rates are at record lows, home prices are climbing in Toronto, Vancouver and most of Southern Ontario. In the Toronto region, the average selling price of a home soared above $900,000 with detached houses in the city hitting $1,541,003 last month, a 26-per-cent increase over July, 2019.

“If you’re on the bubble of qualifying for a mortgage, you may need every last dollar of buying power you can get,” said Rob McLister, mortgage broker and founder of rate comparison website Ratespy.com.

Mr. McLister said the Bank of Canada’s expected change will have an incremental impact. For example, he said a borrower with a $70,000 income with no other debt could afford $4,000 more on a home with a 5-per-cent down payment.

The Bank of Canada said it does not provide the rate in advance of its scheduled publication on Wednesdays.

The big banks advertise their posted rates on their websites, but their actual rates can be at least two percentage points lower than those rates.
 
C’est difficile de s’imaginer que ce sera pas un shitshow quand le gouvernement va arreter de payer les loyers et de donner de l’argent a tout le monde... et que les banques vont demander d’etre payées.

Ils peuvent pas continuer comme ca indéfiniment.

Tout ce qu’ils ont fait c’est repousser le probleme et le rendre encore plus gros
 
Schl c'est pour les bs lol
Why? It gives first time home buyers who don't have rich parents or family the chance to buy something. It's there as a tool. In this market how do you expect a young family to purchase a 600k home with 20% and have all the relative closing costs on hand?

They will likely just have enough for the 5%+ 1.5% closing costs etc

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pas mal alarmiste , hâte de voir si vraiment le marché va s'écroulé fin 2020-2021
If there is one it will be minor. There is still a metric shit ton of foreign case being spent here on homes and boomer parents giving kids money for homes.

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Why? It gives first time home buyers who don't have rich parents or family the chance to buy something. It's there as a tool. In this market how do you expect a young family to purchase a 600k home with 20% and have all the relative closing costs on hand?

They will likely just have enough for the 5%+ 1.5% closing costs etc

Sent from my EML-L09 using Tapatalk

C'était une joke. Mais je suis pas sur que j'achèterais une maison a 600k avec seulement 5% avec tout le marché surévalué par le covid en ce moment.
 
Why? It gives first time home buyers who don't have rich parents or family the chance to buy something. It's there as a tool. In this market how do you expect a young family to purchase a 600k home with 20% and have all the relative closing costs on hand?

Could the SCHL actually be the root cause ?

Tomorrow morning start offering incentives to buy 2,000$ IPhones, next thing you know IPhones are gonna cost 3,000$.

Offer and demand....
 
Could the SCHL actually be the root cause ?

Tomorrow morning start offering incentives to buy 2,000$ IPhones, next thing you know IPhones are gonna cost 3,000$.

Offer and demand....
Oui et non.

Ton coût de construction du iPhone reste le même. Le coût de construction des maison monte en flèche.
Ta aussi les terrains qui oui font partie de l'achat mais c'est de plus en plus rare donc normal que le.prix augmente

Envoyé de mon CLT-L04 en utilisant Tapatalk
 
Could the SCHL actually be the root cause ?

Tomorrow morning start offering incentives to buy 2,000$ IPhones, next thing you know IPhones are gonna cost 3,000$.

Offer and demand....
Yes and No. The original spirit was to offer affordability. These days homes aren't affordable and the CHMC just takes more and more on. Sorta a strange catch 22 when most of your GDP is Banking and Real Estate

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