Mortgage Qualifying Rate Reduces to 4.79%By Scott WestlakeAugust 25, 20200 comments#qualifyingrate #mortgagerate #twt #dlc We realized that the recent decrease in mortgage qualifying rate did not post - so here it is! In order to find out how the current rate impacts you, we must first identify if you are an insured or uninsured borrower. Do you have less than 20% down? Securing ...Read more...
New Benchmark Rate for Qualifying For Insured MortgagesBy Scott WestlakeFebruary 19, 20200 comments#breakingnews #qualifyingrate #twt #scottwestlake #oakvillemortgagebroker #gtamortgage Our Chief Economist Dr. Sherry Cooper shares the recent news on the new qualifying interest rate... Although the net impact, immediately, may only be 30 basis points, this is a strong message that we require a more dynamic solution that can adjust to the market place ...Read more...
Qualifying Mortgage Rate Falls For First Time Since B-20 IntoBy Scott WestlakeJuly 21, 20190 comments#qualifyingrate #bankofcanada #mortgagerate #oakvillemortgagebroker #oakvillemortgagebrokerage #bestmortgagebroekr #gtamortgage #twt #thewestlaketeam QUALIFYING MORTGAGE RATE FALLS FOR FIRST TIME SINCE B-20 INTRO The interest rate used by the federally regulated banks in mortgage stress tests has declined for the first time since 2016, making it a bit easier to get a mortgage. This is particularly important for first-time homeowners ...Read more...