Getting Mortgages Approved is Now the Toughest I've Ever Seen
  
The new regulations were supposed to effect federally regulated lenders such as RBC, TD, First National etc.
They weren't supposed to effect the provincially regulated lenders such as Coast Capital, Vancity, Blue Shore etc.
Well they now have.
The credit unions by choice are changing their guidelines:
1. Increasing qualifying rate (Vancity 3.69% to 4.64%)
2. Decreasing amortization (Vancity 30 year to 25 year)
3. Getting out of certain areas (Blue shore does not lend to Surrey anymore)
What's the solution?
Smart mortgage broker + long term mortgage planning..
Contact me so we can make sure you're well looked after.
Canadian real estate market outlook 2018
There’s never a dull day in real estate. Last year started off with a big nervous question: Will the Canadian housing market crash? In 2018, the new year started off with more of a sigh. Analysts across North America came out with various pronouncements of deceleration in activity and pricing, but the overwhelming consensus was that the nation’s real estate landscape would flatten out, even in the hot Toronto and Vancouver markets.
It wasn’t too bold of a prediction. Activity was way down in the summer months of 2017, even as the number of listings was finally growing. This prompted only incremental increases in pricing and a nation-wide expectation of a soft-landing for Canada’s property markets.
Continue Article Here...
Family Trip to Thailand
For Christmas & New Years, we went to Thailand for our family vacation. The highlight of the trip for me was the "Sanctuary of Truth"
This is a religious construction in Pattaya, Thailand. The sanctuary is an all-wood building filled with sculptures based on traditional Buddhist and Hindu motifs.
The resoration of this structure was initiated in 1981, is still going on today, and is scheduled to be complete in 2050.
We were required to wear hardhats in order to tour the site.
Breathtaking!!
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