Primaria Mortgages
5487 West Boulevard V6M 3W5 Vancouver, BC, Canada

Welcome back everybody! We hope you enjoyed your summer. As we move into fall, rates are still low and the Bank of Canada (BOC) is keeping their benchmark qualifying rate of 0.25% - with no indication of future negative interest rates. The next bank rate announcement is set for Wednesday October 28th, 2020. Link to Dr. Sherry Cooper's article - Read more here: https://mailchi.mp/24a/bank-of-canada-holds-rate-at-25-bps

Genworth will keep underwriting policy as is for now and will not follow Canada Mortgage and Housing Corporation (CMHC) policy change. "TORONTO, June 8, 2020 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: MIC) confirms that it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score and down payment requirements. One of the Company's competitors announced changes to their internal underwriting guidelines with respect to ...the aforementioned underwriting criteria on June 4, 2020. "Genworth Canada believes that its risk management framework, its dynamic underwriting policies and processes and its ongoing monitoring of conditions and market developments allow it to prudently adjudicate and manage its mortgage insurance exposure, including its exposure to this segment of borrowers with lower credit scores or higher debt service ratios," said Stuart Levings, President and CEO." http://investor.genworthmicanada.ca//Genwort/default.aspx RE/MAX Select Westcoast Group RE /MAX Select Properties RE/MAX Select - Main Street

New CMHC High-Ratio Insured qualifying criteria changes! - New GDS/TDS ratio limits - New minimum credit score requirements - Changes to downpayment rules ... Please feel free to reach out at any time by phone, email, or video conference (Zoom, Google meet) www.primariamortgages.com Click link for more details: https://www.cmhc-schl.gc.ca//cmhc-reviews-underwriting-cri Canada Mortgage and Housing Corporation (CMHC) RE /MAX Select Properties RE/MAX Select - Main Street RE/MAX Select Westcoast Group #vancouvermortgagebroker #realestate #mortgages

Bank of Canada holds overnight rate steady at 0.25% If you have any questions we want to make sure we are available to you! Please feel free to reach out at any time by phone, email, or video conference (Zoom, Google meet) - www.primariamortgages.com ... Link to Dr. Sherry Cooper article: https://mailchi.mp/a3a3a/bank-of-canada-holds-rates-steady #bankofcanada #vancouvermortgagebroker #realestate #mortgages