The expected slowdown in Vancouver real estate is now occurring. An authority on the market comments…
“Somerville said he can’t pinpoint a specific reason for the sales slowdown, but that factors could include a lack of faith in the economy, a slowdown in offshore investment or buyers refusing to pay high prices.”
Talk about stating the obvious. Read more: Vancouver Sun real estate numbers signal slowdown
Were you worried about having to re-qualify?
In one of the most significant changes from the proposals it originally issued in March, OSFI has backed off a rule that would have forced banks to insist borrowers re-qualify when their mortgages come up for renewal.
Read more Regulator dials down proposed mortgage rule changes