You have heard the term, maybe on the radio, in a newspaper or in the news. Stress Test. But what is it exactly? A mortgage stress test is a way of determining exactly how much you can afford (and under what circumstances). If your income was reduced or you lost your job, could you still [...]
Durham Region experienced a super-charged real estate market in January, which flowed from a booming fourth quarter in 2020. As a result, the area is on track to see an early spring market. In January, what’s typically a quiet month for home buyer activity, the Durham Region — which spans Ajax, Brock, Clarington, Oshawa, Pickering, [...]
Mortgage shoppers take note: Cheap money is here to stay, at least for the next two years, the Bank of Canada reaffirmed during its interest rate decision on Wednesday. The BoC had previously provided guidance that rates would remain at their effective lower bound—currently 0.25%—“until 2 percent inflation target is sustainably achieved,” but went a [...]
The stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year fixed posted rates. Mortgage experts say the Bank of Canada will reduce the benchmark qualifying rate—a.k.a., “stress test rate”—from 4.94% to 4.79% this week. National Bank of Canada cut its [...]
Whether you qualify with Clover Properties to Rent to Own a condo, townhouse or detached home, choosing a home that you will call your own can be overwhelming. An experienced real estate agent can help simplify and speed up the house-hunting process for you and your family. Anita Bongers-Lewis is one of the outstanding agents [...]
