Mortgage Architects Central Alberta

10/27/2021

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The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.

08/05/2021

In observance of National Day for Truth and Reconciliation, September 30th will be a new national holiday to commemorate the tragic history and lasting effects of Canada’s residential school system, and to honor Indigenous survivors and their families and communities.



Kelly Lukens - Mortgage Planning

07/06/2021

After 1yr, CMHC(Canada Mortgage and Housing Corp)is returning to its pre July 5, 2020 underwriting practices for homeowner mortgage loan insurance. CMHC was the only Insurer that implemented the new rules, Genworth(Sagen) and Canada Guaranty(privately owned insurers) quickly gained the market share to assist Home Owners with their mortgage needs.

I would like to say something sarcastic, but I am just thankful that they realized it was not necessary. 😆🤗🤓

Kelly Lukens - Mortgage Planning

Effective July 5, 2021, Canada Mortgage and Housing Corporation (CMHC) is returning to its pre-July 2020 underwriting practices for homeowner mortgage loan insurance. Our response to this change and what it means for first time homebuyers and the Canadian economy: https://bit.ly/36b7wke

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Depuis le 5 juillet 2021, la Société canadienne d’hypothèques et de logement (SCHL) reprend ses pratiques de souscription d’assurance prêt hypothécaire d’avant juin 2020 pour les propriétaires-occupants. Voici notre réaction à ce changement et ce qu’il signifie pour les primo-accédants et pour l’économie canadienne : https://bit.ly/3hik0wT

05/27/2021

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Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage.

The Office of the Superintendent of Financial Institutions (OSFI) confirmed on Thursday that it will move ahead with its stress test changes first announced last month, which will apply to uninsured mortgages (typically those with more than a 20% down payment).

Soon after, the Department of Finance confirmed it will follow OSFI’s lead, and apply the same higher qualifying rate to insured mortgages, or those with less than 20% down.

In both cases, borrowers will need to prove they can afford payments based on the higher of the contract rate plus 2%, or a new floor rate of 5.25%, up from the current 4.79%.

Check out the details 👇

https://www.canadianmortgagetrends.com/2021/05/insured-and-uninsured-mortgage-stress-test-changes-confirmed-for-june-1/

05/08/2021

Let me help you find options for your unique situation!
📲 Give me a call 403 505 1771
www.centralalbertamortgages.com

04/22/2021

Watch this video from the President of Mortgage Professionals Canada.....he explains why we are seeing a real estate "frenzy" and of course "Why a Mortgage Broker should be your first contact"!!😄
Don't delay....📲 me 403 505 1771

Paul Taylor, president and CEO of Mortgage Professionals Canada, talks about the state of Metro Vancouver’s housing market and how a mortgage broker can help. CTV Morning Live

04/09/2021

It is never too early to start the preapproval process....get all your🦆🦆🦆 in a row for a mortgage plan!
📲403 505 1771
www.centralalbertamortgages.com