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  1. CMHC chief alarmed by growth of unregulated lenders

    Canada housing agency concerned by unregulated lenders’ growth MATT SCUFFHAMThe Vancouver Sun New rules meant to cut out risky lending by Canadians banks are pushing home purchasers into the arms of unregulated lenders, the head of the nation’s housing agency said on Friday, adding that steps could be taken to curb their growth. The Office […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    21-10-2017
    Real Estate Related

  2. OSFI rule change will protect against tail risk of correction

    Steve RandallCanadian Real Estate Wealth The changes to OSFI’s B-20 guideline which will tighten mortgage lending criteria from January has not been widely welcomed, but Fitch says it’s a good thing. The ratings agency says that the banking system is still vulnerable to “a growing tail risk of a sharp correction in the housing market” […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-10-2017
    Real Estate Related

  3. OSFI’s tighter stress test could push home buyers out of the market

    Homebuyers beware Neil SharmaREP While it’s unlikely the next interest rate hike, expected December 6, will be too cumbersome for homeowners, especially those on fixed-rate mortgages, prospective homebuyers will feel the heat. According to Brad Henderson, president and CEO of Sotheby’s International Realty Canada, the rumoured interest rate increase is believed to be in the […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-10-2017
    Real Estate Related

  4. Stress test to hit ‘move-up’ home buyers the hardest

    Ephraim VecinaCanadian Real Estate Wealth The newest set of mortgage restrictions announced by the Office of the Superintendent of Financial Institutions (OSFI) will hit home buyers looking to upgrade to new properties the hardest, according to BMO financial group chief economist Doug Porter. OSFI’s latest rules state that even home buyers who don’t require mortgage […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-10-2017
    Real Estate Related

  5. Why researching your rent-to-own company is important

    Neil SharmaCanadian Real Estate Wealth While rent-to-own purchases are becoming more popular, it’s important to know who you’re dealing with, and to balance the risks and rewards. According to Bob Aaron, a real estate lawyer with Aaron & Aaron, rent-to-owns typically surge in popularity during market downturns, and  they’re also one of the few options […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-10-2017
    Real Estate Related

  6. Keep proxy votes in check

    Make sure to take steps to prevent abuse Tony GioventuThe Province Dear Tony: Thank you for your column about fraudulent proxies and voting results. Unfortunately, the column did not get to the point of what we do with proxies that don’t meet the requirements of the act. Our strata had similar problems in the past […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-10-2017
    Strata Information

  7. Southside 16480 22nd Avenue South Surrey 50 single family homes by Miracon Development

    Southside reflects both polish and practicality Mary Frances HillThe Province Southside Where: 16480 22nd Ave., South Surrey What: 50 single-family wood-framed homes with detached garages and finished basements Residence sizes and prices: Four-bedrooms; 2,418 — 3,600 sq. ft., from $1.98 million, including GST Developer and builder: Miracon Development Inc. Sales centre: 16488 22nd Avenue Hours: noon — 5 p.m., Sat — Thurs While […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-10-2017
    Real Estate Related

  8. Vancouver’s made it easier to get a housing permit

    Steve RandallCanadian Real Estate Wealth The process of getting a development permit in the City of Vancouver has improved over the past year and is expected to continue to do so. The city’s mayor says that efforts to speed up processing times for new permits have proved successful even as the City deals with a […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    18-10-2017
    Real Estate Related

  9. Stringent NEW Canadian Mortgage Rules take affect January 1st, 2018

    other Office Of The Superintendent Of Financial Institutions (OFSI) has finalized NEW mortgage rules applicable on all federally regulated banks.  The new rules officially start January 1, 2018.  This will dramatically change the lending landscape. The new rules apply to all bank mortgages and will make borrowing more difficult even for clients who have substantial […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-10-2017
    Real Estate Related

  10. The new mortgage guidelines have stricter stress test

    OSFI releases final B20 guidelines Canadian Real Estate Wealth Canada’s banking regulator has published the final changes to its guidelines for residential mortgage underwriting, including a financial stress test for buyers who don’t need mortgage insurance. The Office of the Superintendent of Financial Institutions said Tuesday the changes will come into force by Jan. 1, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    16-10-2017
    Real Estate Related

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