OSFI B20 mortgage guideline changes 2017 – Part 1

Jeff Evans

B20?  Is that some kind of vitamin?

It certainly sounds like a vitamin, but unfortunately, it is something else altogether.  The Office of the Superintendent of Financial Institutions is the regulator for all federal mortgage lending institutions.  They set the regulations for mortgage companies like banks to follow (or ignore).

The latest updates to the B20 mortgage regulations could bring some potentially very disrupting changes to the real estate market, especially if you are wanting to get a mortgage in Vancouver, or you are a mortgage broker in Vancouver. In summary:Read More

Why is the real estate market in the Greater Vancouver Area going crazy?

Jeff Evans

Here is another reason, and its one that is largely overlooked

housing market

On my website, since mortgages are so BORING for people to read about, and subjectively painful to enter into, most of what I write about centres around two things:

  1. 1) Government regulation of the mortgage lending rules making it difficult for the average resident to obtain a mortgage to get into the housing market.
  2. 2) The obscenely expensive housing market in the Greater Vancouver Area and the causes of it.

This article is about point number 2.  But its a new slant on it!Read More

Reflections on a hot housing market

Jeff Evans

Looking forward at housing by looking back at housing

Vancouver housing
By: JamesZ_Flickr

If you think back ten years ago, did you find housing overpriced? Looking back, if you did not buy a home then or since, do you wish you had? If you did buy, aren’t you glad you did?

If you look at the market today, do you find housing overpriced? If you put yourself in your shoes 10 years in the future, do you think you would wish you had bought a home today? What do you think is going to change the trend of housing becoming more expensive?

Stop waiting for tomorrow. Get in today. If it’s a home that is less than ideal, it’s still a start towards your dream home. The longer you wait, the more difficult it will be.

If you own a home that is less than ideal, maybe you want to look at making a change. Expensive homes increase in price faster than less expensive homes do, so moving up is advantageous for you.

In order to buy a home, you will probably need a mortgage approval. We often make mortgage approvals happen where others have failed. If you don’t think you can qualify, a 5 minute phone

interview is all it takes for us to have an idea of whether it is possible for you to buy a home. Call us today.

Cash in on your property values with a refinance!

If you have followed my blog for a while, I think you would understand me saying that I find it difficult

mortgage refinance
By: Damian Morys

to come up with interesting original material to provide.  I mean…I am selling getting into the biggest DEBT that most people will ever likely incur, and I talk about a local housing market that appears out of control but actually is NOT.

The product I offer is intangible, and is the “nasty” part of a transaction that people otherwise enjoy.  No one goes out shopping to purchase that hot sexy mortgage, there is no Gucci or Prada branded mortgages I can put in the window that anyone will be interested in buying.  There’s an idea to justify a higher interest rate! “Yeah, I paid double what everyone else is paying, but it’s so worth it, the paper that I signed was so soft and smooth, and the quality of the printer was amazing!”

Anyways, rather than just write my grievances with the current situation, I tried to think differently.  Read More