How will the new mortgage stress test rules impact Metro Vancouver real estate?
Posted on Jul 14, 2021 in Blogs
The Office of the Superintendent of Financial Institutions (OSFI) and the Minister of Finance, Canada’s banking regulators, tightened the rules around the mortgage stress test on June 1.
Under the new requirements, all mortgage applicants must be able to afford their mortgage at an interest rate of 5.25 per cent or two per cent over the contract rat...
Monthly Market Report June 2021
Posted on Jul 09, 2021 in Market Trends
While still elevated, home sale and listing activity in Metro Vancouver* has eased back from the record-setting pace seen in March and April of this year.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54 per cent increase from the 2,443 sales recorded in June 2020...
