Real Estate Information Archive


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You may miss out on Low Interest Rates if you wait...

by Lorna Calder


Waiting to Buy a Home? 

You May Miss Out on Low Interest Rates!


In December, the Federal Reserve raised the key interest rate by a quarter-point to a range of 0.25% to 0.5%, the first rate increase in nearly a decade.1 While some experts expect the Fed to raise rates gradually this year, some economists expect rates to increase three or four more times this year.2 Increases are anticipated to amount to a quarter -point each time, and when they do occur are sure to impact mortgage rates.What's a homebuyer to do?



Quarter-point interest rate increases may not seem like a whole lot but it could mean the difference of hundreds of dollars!



  • Get pre-approved for a mortgage
  • Narrow down your search criteria
  • Get hunting


Check out the image below or upload our PDF for more details on these bullet points and to gather more important information on why NOW is the time to buy!

1. CNN Money, December 16, 2015

2. The Guardian, January 6, 2015

Mortgage Changes to Be Aware of for 2014

by Lorna Calder

Mortgage Changes to Be Aware of for 2014

There are new regulatory changes that came into effect in January that impact mortgages in 2014.

One of the biggest changes is The Consumer Financial Protections Bureaus Ability to Repay Mandate – which is designed to ensure that every borrower is a qualified borrower. Under this new mandate, Lenders must now follow a set of guidelines to establish income, assets before deeming an applicant eligible for financing.

We are also seeing more changes to FHA loans. FHA loan limits are now reduced from $662,500 to $592,950. This reduction is more likely to impact buyers of higher priced properties.

Another change is that points and fees can no longer exceed 3% - due to caps on loan origination fees.

Under the new mandate these tighter qualifying rules may make it more difficult for self-employed borrowers, even if they have good credit.

Displaying blog entries 1-2 of 2




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