|Wow! This has been one year full of suprises!
I am sure you have heard the latest news….
The Bank of Canada Qualifying rate has increased from 4.64% to 4.84%.
But what does this mean exactly?
Is the Real Estate sky falling?
Is it all over for us Investors?
Does this mean it is no longer realistic to qualify for an income property?
Not at all!
In basic terms, borrowers will now have to qualify based on the 4.64% interest rate if they want to choose a variable or a 1- to 4-year fixed term if you’re putting down less than 20%.
Did you get that last sentence????
IF you’re putting down LESS than 20%
And WE would never put down less that 20%, would we?
So once again, you are safe!
But are your mortgages?
Better to be safe than sorry!
Contact me today for a complimentary review of your existing mortgages and we can get started on creating your personalized mortgage plan!
Email me at email@example.com
Let’s be prepared for any more surprises!