April 2021 Newsletter
Mortgage Changes Are On The Way (Again)
It seems like there are announcements every week that will affect folks who are applying for mortgage financing. We’ve reviewed each announcement and pulled out the key information for you. Plus, our monthly social media giveaway, a Mortgage Minute video, and more!
OSFI Changes Stress Test for Uninsured Mortgages in 2021
The proposed qualifying rate for uninsured mortgages will be the higher of the mortgage contract rate + 2% or 5.25%. We discuss how the qualifying rate works, who the change will effect, an an example of the change in action.
To Buy Or Not To Buy Your First Home In 2021?
These days that’s the million dollar question – quite literally in Victoria and the Greater Vancouver areas. Buying a house, especially your first home, is a major decision. Auxilium Mortgage owner Kam Brar looks at some of the factors you should consider if you decide to buy property in 2021.