Announcement from CMHC in Reference to Self-Employed Borrowers

Starting October 1, 2018,  it will be easier for the self-employed to qualify for a mortgage. CMHC just announced it’s giving lenders more guidance and flexibility to help self-employed borrowers. The move is designed to assist self-employed Canadians who may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable. CMHC is providing examples of factors …

Real Estate Prices Edge Higher in GTA Markets

The Toronto housing market showed some improvement in home sales this June along with the average selling price. 8,082 homes were sold by Toronto Real Estate Board (TREB) members through the MLS in June; a 17.6% jump from May 2018 and 2.4% more than in June of last year. Policy changes such as the B-20 mortgage guidelines which tightened lending …