Rick Ceccarelli
4237 Dundas St. West M8X 1Y3 Toronto, ON, Canada

Great new video that will explain the new mortgage stress tests kicking in January 1st 2018.

RBC mortgage rates going up today.... TD went up last week, new mortgage rules coming into play Nov 30th have already had an impact. If your house is valued at over a million, even if you are only borrowing $100,000 you are forced to lend from a big bank, essentially wiping out all competition from smaller more competitive lenders. This also affects mortgage renewals, so even when you bought your house and it was under a million, if its value has risen (everybody in Toronto) your renewal will need to go to a big bank.

Wonder why you lost that bidding war? Unfortunately there are snakes in all industries, these ones just happen to deal with people's most important investment. I think everybody already assumed this stuff goes on, it paints to broad a picture for the good apples out there. Careful who you choose to represent you!

This has been long overdue!

Starting in February, CMHC will require a 10 % down payment on the portion of any mortgage it insures over $500,000. Anything under $500,000 is still 5%, and anything over a million is still 20%.