The Stress Testing of Mortgages that is coming in January, can be ... stressful. This is especially true for those who find themselves with high ratios on their mortgage. We wanted to give you some information and options that may help you if you have an HR Mortgage. As always, please ask us about any questions regarding real estate or financing. We are happy to help.
Here is some information from Adam Ghotme, a local Mortgage broker that a number of our clients use. Here's Adam:
With stress testing continuously in the news, I thought it would be a great idea to focus 30 seconds on our Cash Back Mortgage. Cash back mortgages have become popular again as all HR (High Ratio) mortgages require qualification on benchmark rates.
As always, we at Team Leading Edge want to provide you with the latest information for every segment of the real estate market in Edmonton. That includes luxury homes, which are often more affected by national and international trends and factors. Finding the right information and being able to accurately interpret it has never been more critical.
The Institute of Luxury Homes Marketing recently released a report of the luxury real estate market. In the report there were a number of interesting indicators. The overall profile showed an even composite price, but an upward trend to Days on Market.
But if you look at the chart for days on market, it shows the typical seasonal patterns with a faster pace to spring sales and a slower time