NEW MORTGAGE RULES!!!
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- Опубліковано 22 вер 2024
- Lookout! New mortgage rules for first-time homebuyers, including a 30-year amortization option and an increased high-ratio cap of $1.5 million. While these changes may seem beneficial, Vince explains the realities of qualifying for such mortgages. With an average household income requirement of $300,000, many Canadians may find these new rules inaccessible. Join us as we break down what these changes mean for you and discuss the implications for the average Canadian homebuyer. Don’t miss our tips on navigating this evolving landscape!
#HousingCrisis #CanadaHousing #RealEstateNews #finance #financialeducation #trudeau #canada #immigration #internationalstudents #firsttimehomebuyer #torontorealestate
At OwlMortgage.ca, we’re reframing mortgages. Gone are the days of daunting contracts that laden you with debt. Our educational and empathetic approach considers your needs and wants from your home to make it work for you. We offer a helping hand regardless of your learning style or where you are in your home-buying journey. Whether you're self-employed, salaried, or retired, and looking for a first home, renewing, refinancing or consolidating your debt, the team is here to help.
📩 vince@owlmortgage.ca | (416) 613-5363
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#mortgage #mortgagebroker #realestate #housingmarket #canada #interestrates #politics #toronto #ontario #canadianeconomy
Do you think it's time for a significant change in leadership at the highest levels? Comment below!
Yes, but the person would need to stop the $ printing press. The public apparently wants more than they are taxed for. This will end badly.
@@murrat It would be hard for any new leader to stop it. Everyone will start blaming the new guy for job losses, and then he will have to find a compromise. It's a mess.
Yes, it is about time we vote for competent leadership. The problem is that in this country we have an over abundance of idealogues in politics and competence is scarce.
YES!!!
The monthly mortgage cost for a 1.5 million mortgage at 5% (30-year amortization) is 8,000$ plus property tax, home insurance, and HOA fees (if applicable). The average monthly income for a household in Canada is around 5,000$.
Helps them qualify with a downpayment assistance from mom and dad . .
This whole thing is horrific. Why does Canada refuse to allow a market to correct properly? There is ZERO reasonable excuse for our high house prices here. Disgusting.
@@debbielockhart7762 I think politicians are concerned that voters will get upset if their property drops in value. Many see it as a retirement fund. The other concern politicians have is job losses since real estate accounts for 23% of the economy. They are all wrong reasons for inflating the market since politicians should be doing the policy-making, but it is what it is.
So true 👍
Verry verry good point! it's a stealth bailout
I built a tiny home myself in rural Ontario to live withing my means. This doesn't seem fair that any of my tax dollars goes to help banks or people who shouldn't buy over priced homes. This is destroying our dollar and country.
This is commie Canada except its take from the poor to give to the rich.
You must never hoard wealth comrade, that is how you destroy our illustrous communist paradise.
You must surrunder all excess wealth to our dear leader and his chosen favorites.
Our dollar is no longer having a value. It has become Canapeso.
Bingo! It's the banks that need the liquidity.
Young buyers should not take this bait as they will become debt slaves for a llllooooonnnngggg time
I’m sure it’s not the seniors purchasing at 1.5 and living beyond their means.
I can only tell you that part of my investment portfolio is in Canadian banks and it’s doing very well.
I’m sooo annoyed. Tax payers again!!!
The constant bailout and refusal to allow capitalism to play out, has resulted in this inflated unaffordability crisis. They young are fked. Get out while you can if youre young. Im leaving canada next year