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MORE GREAT NEWS FROM MORTGAGE BROKER CHAD DREYER
Hello,
Hope you had a great weekend!
It looks like we may see some great upcoming changes to Insured mortgages in Canada!
There are plans to increase the maximum purchase price for insured mortgages (less than 20% down) mortgages from 1 million to 1.25 million which is great new for Markets like Vancouver where prices are hight and in situations where buyers may be able for a to qualify but could be short on downpayment needed for a purchase would have the option to look at an insured mortgage with a higher price point.
As this develops I will be sure to keep to keep you updated.
Bond yields have hit new highs that we have not seen since Feb 2020 and this is certainly going to put pressure on fixed rates to increase shortly, I have heard some lenders will be announcing rate increases overnight or over the coming days unless bond yields go back down shortly.
Given where bond yields are now, I suggest any clients you are currently working with who may not have a pre approval/rate hold currently that they do so ASAP!
Have a great week.
Thanks,
Chad Dreyer
Mortgage Consultant
FSCO License: M21000565
604.614.9239
chad@chaddreyer.ca
www.chaddreyer.ca
INTERESTING UPDATE FROM MORTGAGE BROKER CHAD DREYER ON PROMISES TO HELP HOME BUYERS.
Well as we all saw nothing much changed with last months Federal election, however the Liberals now have a fresh slate of policies for housing with hopes of sustainability and assisting first time buyers.
Here is a summary of their key housing promises:
Housing Supply
The Liberals plan to build, preserve or repair 1.4 million new homes if the next 4 years, they plan to do so through the following initiatives:
Mortgage Qualification Policies
Financial Assistance
There is definitely a lot of work here with everything the Liberals have proposed above and as we know by the time these come to law they could look much different that proposed above.
I will continue to monitor these and update you if any policy changes are announced.
If you have any questions please feel free to reach out!
Thanks
Chad Dreyer
Mortgage Consultant
FSCO License: M21000565
604.614.9239
chad@chaddreyer.ca
www.chaddreyer.ca