“What’s your best 5 year fixed rate these days?” That is probably one of the most common questions I get as a mortgage broker. In the past it was an easy question to answer, unfortunately that’s not the case anymore. Today there are 4 different categories a borrower can find themselves, each with a different set of interest rates. In order to understand how we got here, we have to take a time machine back to October 2016. A red hot real estate market, in particular Vancouv

It has now been a couple months since OSFI introduced its new mortgage lending guidelines which included a 2% stress test on all uninsured mortgages and the effects are beginning to be felt. Here are some of things I’m seeing: More Declines with traditional banks and lenders. Borrowers being forced into more expensive alternative mortgage options. It’s still busy…our office has received as many mortgage applications in recent weeks as we typically would at this time any other