Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
Episode 100: New Mortgage Reforms, Housing Affordability, and Toronto Market Update
In our milestone 100th episode, we explore Canada's latest mortgage reforms, including stress test removal and changes in amortization periods. We discuss government initiatives for housing affordability and trade-offs in mortgage terms. Learn about shifts in mortgage and central bank rates, plus the U.S. economy's impact on Canadian rates. Get practical tips for navigating today's market and insights on ninety percent refinances. Updates on anti-money laundering in mortgage brokerage, a Greater Toronto Area real estate market update, effects of slow sales, and insights from Altus Group on commercial real estate round out the episode.
Key Points
- Changes to Canadian mortgage rules will make it easier for homeowners to switch lenders without facing a second stress test, potentially lowering their monthly payments and reducing default risks.
- The extension of mortgage amortization periods to 30 years for all buyers of newly built homes aims to support the construction of millions of new homes by 2031, making homeownership more accessible.
- New anti-money laundering and anti-terrorist financing laws for mortgage brokerages in Canada come with stringent compliance requirements and severe penalties for non-compliance, placing significant accountability on brokers and lenders.
Chapters
| 0:00 | |
| 0:28 | |
| 1:20 | |
| 2:11 | |
| 2:50 | |
| 4:05 | |
| 5:02 | |
| 6:07 | |
| 7:38 | |
| 11:52 | |
| 14:36 | |
| 18:51 | |
| 21:23 |
Transcript
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