New regulations, new rates will get a bit more expensive for a mortgage in Vancouver
2016-09-16 | 10:58:29
Joel's Mini Blog:
In the News this week -
The government one more time is tightening mortgage underwriting rules that will come in effect in November this year, I predict less lending (consumer's debt ratio) also, banks are forced now to keep more funds in their reserves, by not moving this money, new rates will get more expensive because banks will be not making a profit on those reserves so they will pass this cost onto the consumer.
AMAZING 5 years fixed rate below 2.35% Fixed and Variable 2.20 this week
PS: My phone is on - all the time (including weekends). Text me to get my attention, I'll call you back within 10 minutes.