Ravi Punia - REALTOR®

Fraser Valley Specialist

FRASER VALLEY REAL ESTATE BLOG POSTS

The big story in the real estate market on Friday was Canada Mortgage and Housing Corporation (CMHC) setting stricter guidelines for its mortgage insurance business.


"The government-backed Canada Mortgage and Housing Corp said on Thursday it would tighten rules for offering mortgage insurance from July 1, after forecasting declines of between 9 per cent and 18 per cent in home prices over the next 12 months.  The move would make it harder for riskier borrowers, who offer down payments of less...

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Further to yesterday's blog post about downsizing, a related theme to that is the theme of deleveraging.  Given the economic impact and hardships being created by Covid-19, it is likely that some homeowners are re-evaluating their financial situation.  Some homeowners who bought in recent years may have overextended themselves in terms of how much money they borrowed (i.e. taking on big mortgages) to get into the Vancouver area housing market.  As such, I believe that we may be on the...

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*This blog communication is not intended to cause or induce breach of an existing agency agreement.  Views are my own and do not reflect those of any organizations that I may be associated with.

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