Economic analysis from the BC Real Estate Association (BCREA):
“The impact of the new stress test requirement will be to lower the purchasing power of households by up to 20 per cent. Like past tightening of mortgage regulations, we anticipate that the market impact will be sharp but temporary. In the past, we’ve seen home sales decline in the three to nine months following the implementation of tighter mortgage lending standards, with the severity of the impact fading within one year. However, these new regulations impact a larger pool of mortgages and so the impact could be more significant than in the past,” said Cameron Muir, BCREA chief economist
We’ll provide more details on these changes in an upcoming Realtor News.
https://coastlifestyles.ca/wp-content/uploads/2017/10/mortgage-word-cloud-e1508280719416.jpeg7691600Ria Qureshihttps://coastlifestyles.ca/wp-content/uploads/2015/02/logo-banner_nosussex_web-300x77.pngRia Qureshi2017-10-17 22:58:082017-10-18 16:02:11Government adds new qualifying requirements for uninsured mortgages
Here are some interesting links for you! Enjoy your stay :)