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Tag Archives: Jessi Johnson Mortgage Broker
Vancouver Real Estate Affordability & March 18 2011 Mortgage Rule Changes
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March 18 2011 Department of Finance Mortgage Rule Changes and Real Estate Affordability in Vancouver
We’ve been discussing mortgages a lot lately because they have such a huge impact on Vancouver Real Estate Market.
In previous posts we explained the March 18, 2011 Mortgage changes Canada’s Department of Finance enacted.
Today we’re going to talk about how these changes to Canada’s mortgage rules will affect the affordability of residential real estate here in Vancouver.
Jessi Johnson a Vancouver Mortgage Broker did some calculations to give a better idea of the impact from these changes.
Rising Rates & Shortened Amortizations Affect Vancouver Housing Affordability?
Posted in: For Buyers, For Sellers, Vancouver Real Estate and Mortgage Financing
Tags: How Will The March 2011 Mortgage Changes Affect Vancouver Prices, Jessi Johnson Mortgage Broker, March 2011 Mortgage Changes, Mortgages and Vancouver Housing Affordability, Vancouver Housing Affordability, Vancouver Housing Cost, Vancouver Housing Prices and Mortgages, Vancouver Real Estate Affordability
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March 18 Mortgage Changes & Vancouver Real Estate 2 of 3 Maximum Refinancing Reduced to 85% Loan To Value
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March 18, 2011 Department of Finance Mortgage Changes Part 2 of 3 – Reduced Refinancing Maximum Loan to Value
In January 2011, Canada’s Department of Finance announced a series of changes to the lending rules for Mortgages that will come into effect in on March 18, 2011 and April 13, 2011.
In part 1 of 3, Jessi Johnson and I discussed how the new rules shortened the maximum amortization from 35 years to 30 years for high ratio mortgages. In part 2 of this series Jessi Johnson will explain the changes to the refinancing rules.
Call in Jessi Johnson, Mortgage Specialist!
Like I always do, when I don’t know the answer, I call in the expert and this case, Jessi Johnson a Vancouver Mortgage Broker has been kind enough to meet with me and explain the new rules.
What does Loan to Value (LTV) mean? Continue reading
Posted in: For Buyers, For Sellers, Vancouver Real Estate and Mortgage Financing
Tags: 2011 Mortgage Refinancing Rule Changes, Cooling Canada's Real Estate Market, Department of Finance Mortgage Rule Changes, Department of Finance Refinance Rule Changes, Interest Rates and The Canadian Dollar, Jessi Johnson Mortgage Broker, March 18 2011 Refinancing Changes, Maximum Loan to Value Ratio Canada, mike stewart, Reduced Loan to Value, Reduced Refinancing Maximums, Refinancing a Home in Vancouver, Refinancing Vancouver Real Estate, The Bank of Canada and Real Estate, Vancouver Mortgage Advice, vancouver real estate
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Variable Versus Fixed Rate Mortgages with Jessi Johnson Mortgage Broker!
Last week I had the pleasure of meeting up with Jessi Johnson of the Jessi Johnson Mortgage Team to discuss the merits of a Variable Rate Mortgage versus a Fixed Rate Mortgage.
What is a variable rate mortgage?
This is a mortgage that has an interest rate that changes in line with the Bank of Canada’s prime rate.Variable rate mortgages tend to have a lower interest rate than a fixed rate mortgage, but the interest rate on a variable mortgage can change at any time.
What is a fixed rate mortgage? Continue reading
Posted in: For Buyers, Vancouver Real Estate and Mortgage Financing
Tags: Assumable Mortgages, Bank of Canada, Canadian Mortgages, Financing Advice, Fixed Rate Mortgage, Fixed Rates versus Variable Mortgages, Fixed Rates vs Variable Rates Mortgages, Fixed Versus Variable Rate Mortgages, Interest Rate Volatility, Interest Rates and Real Estate, Jessi Johnson, Jessi Johnson Mortgage Broker, Jessi Johnson Team, Mortgage, Mortgage Advice, Mortgage Broker, Mortgage Financing, Mortgage Financing Advice, Mortgage Financing in Canada, Mortgage Financing in Vancouver, Mortgage Rates Fixed or Floating, Mortgages, Mortgages as Investments, Property Advice, real estate advice, Rising interest rates and real estate, Vancouver Real Estate and Falling Interest Rates, Vancouver Real Estate and Rising Interest Rates, Variable Rate Mortgage, Variable Rate Mortgage Loan, Variable versus Fixed Rate Mortgages, what are the risks of a fixed rate mortgage, What are the risks the risks of a variable rate mortgage, What is better a variable or a fixed mortgage, Which Mortgage is Better Fixed or Variable, why are fixed rates better, why are variable rates better
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