If you’ve been holding off looking into a readvanceable mortgage or HELOC (Home Equity Line of Credit) and are looking to use up to 80% of your home value, you’re running out of time to get it done. The new underwriting mortgage rules (that we looked at a couple of months ago) that were brought… Continue reading The Writing’s on the Wall for the 80% HELOC
Tag: HELOC
A Review of “The New Mortgage Rules”
As you’ve probably heard, there were a plethora of changes directed at the mortgage industry last week by Finance Minster Jim Flaherty along with the OSFI (Office of the Superintendent of the Financial Institutions of Canada). This is the 4th time since the credit crisis in 2007 that the Department of Finance has clamped down… Continue reading A Review of “The New Mortgage Rules”
The CAAMP Spring 2012 Mortgage Report
If you love stats, you’ll love CAAMP’s (Canadian Associates of Accredited Mortgage Professionals) semi-annual report on the Canadian mortgage market. You can read the full report here (be warned, it’s 40 or so pages long), but here are some interesting stats that I’ve pulled from it. There is currently $994 billion in mortgages on primary… Continue reading The CAAMP Spring 2012 Mortgage Report