Adnan Hashmi Is Realtor from Mississauga Canada, Won Many Awards in His Real Estate Career.Experienced Real Estate Agent, Working with Wolf Realty Inc.,
Real Estate is all about buying and selling property .Wrong! To Adnan Hashmi, real estate is about serving real people with real needs and providing real value.Real Estate with us means as a buyer or seller, you experience the excellence of my proven track record. I believe in creating memories and letting our clients experience the excellence
Monday, 3 October 2016
Ottawa will move again to tighten mortgage rules
Mortgage stress tests have so far only been required for borrowers who take on variable or fixed interest rates with terms less than five years. But as of Oct. 17, any borrower with an insured mortgage will have to qualify at the 5-year Bank of Canada fixed posted rate — currently 4.64 per cent.
Starting Nov. 30, mortgage insurance criteria for low loan-to-value ratio mortgages (80 per cent or less of the home’s value) will be as stringent as that for high loan-to-value insured mortgages (loans representing 80 per cent or more of the home’s value).
However, homeowners with an existing mortgage or renewing their mortgage will not be affected.
To address the speculation in Vancouver and Toronto real estate partly fueled by overseas money, the government also announced that a capital gains tax exemption on the sale of a principal residence will now only apply to those who live in Canada the year the home is purchased.