This week I talk about the recent trend of higher rates being offered to clients going with conventional mortgages. I give my opinion as well as explain why this is happening.
The next topic I go over is in regards to OSFI’s report in March entitled “Residential Mortgage Underwriting Practices and Procedures”.
I go over a few of the major topics that the OSFI has outlined in the reports such as limiting HELOCs to 65% Loan to Value, down from 80%, as well as the need for people to requalify on every renewal.
You can get a copy of the report here
Please view and share with any friends or family interested in mortgage news:
[youtube]http://www.youtube.com/watch?v=6NnOepNiDrM [/youtube]
