Mortgage Changes? thin rumour gruel.

Hey look, it’s a mortgage broker referring to a huff-post article about TD bank comments on potential mortgage rule changes.

Alexander believes the most likely scenario would be the decreasing the maximum amortization period for a government-insured mortgage from 30 years to 25 years, the report said. Furthermore, Alexander said prospective homeowners who can’t afford a 25-year mortgage against a 30-year agreement probably aren’t in a financial position for home loans anyway.

Pretty thin rumor chain for more mortgage rule changes, but what do you think? Any chance we’ll return to the traditional 25 year amort for insured loans?

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[…] to Paulb Monday was our first day of over 400 new listings in 2012: New Listings 428 Price Changes 64 Sold Listings […]

Patient Renter
Patient Renter
8 years ago

@Makaya: All else being equal, why *wouldn't* you lock in these rates for 10 years? Do you expect rates to go down over the next five years?

paulb.
paulb.
8 years ago

@Lilypad: Lol, thanks Lilypad. I look forward to working with you also. It's always a lot of fun meeting people from this blog.

paulb.
paulb.
8 years ago

@TPFKAA: Thanks TPFKAA! I look forward to meeting you when the time is right.

trackback

[…] to Paulb Monday was our first day of over 400 new listings in 2012: New Listings 428 Price Changes 64 Sold Listings […]

Lilypad
Lilypad
8 years ago

Where are my manners? Of course, it would be blunderous for me not to thank POPE for everything he/she has given us in keeping this wonderful blog operational over so many years. THANK YOU POPE!

Lilypad
Lilypad
8 years ago

@paulb.: Paul, you are da man! Will definitely seek you out when I'm ready to buy! Thanks you SO MUCH for keeping us informed over the years (except when you went AWOL hehehe)!!!

southseacompany
southseacompany
8 years ago

"Housing appears set for soft landing. But not Vancouver?" Globe & Mail, Jan16/12

"Mr. Porter (BMO Nesbitt Burns) expects a so-called soft landing for the real estate market overall, though perhaps Vancouver could see something worse.

"That's not unusual," he said. "Vancouver has been through heavy cycles before.

http://www.theglobeandmail.com/report-on-business

ReadyToPop
ReadyToPop
8 years ago

Mortgage changes….never!

Haven't you heard?

We're living in a whole new world of "no-fault" capitalism.

IF IN DOUBT, BAIL IT OUT!

Makaya
Makaya
8 years ago

You gotta be kiddin'!!! These guys have no shame or decency! Buy now to get an unheard-of rate for a 10-year mortgage "There’s a brilliant reason to get into our expensive and quite possibly weakening housing market right now. A 10-year mortgage is now available for under 4 per cent. You can thank the banks for this unheard-of rate. In the past week or so, competition between them on mortgage rates has gone nuclear. Have you caught all the warnings about how the house that you can afford now because mortgage rates are so low will crush you when borrowing costs rise? With a 10-year mortgage, you’ve got long-term cost certainty. “This is a fantastic opportunity for somebody to lock in and have peace of mind for 10 years without worrying about a renewal,” said veteran mortgage broker Vince Gaetano… Read more »

Anonymous
Anonymous
8 years ago

BC…the Best Place on Rent.

paulb fan
paulb fan
8 years ago

@ZRH2YVR: lol

ZRH2YVR
8 years ago

#67 PaulB Fan

Somehow your statement reminded me of an old video which is a great metaphor for what we have going on in Vancouver now.

http://youtu.be/vJG698U2Mvo

Best place on meth
Best place on meth
8 years ago

@RippedtoShit:

>>>McLovin, is that trucker friend of yours getting as much work as last year? I hear that that industry is also slow.<<<

You know what else is really slow all of a sudden?

http://www.bloomberg.com/apps/quote?ticker=BDIY&a

Shipping.

TPFKAA
TPFKAA
8 years ago

@paulb.:

Downpayment is building nicely my friend… You shall soon be reaping. Bears never forget.

400 listings? holy shit. It's getting biblical, and the post Chinese-new year re-list rush that Van MD talked about has yet to kick in.

anonywow
anonywow
8 years ago

@RippedtoShit:

Wow/RJ/RTS… where are you? You don't answer within 60 seconds. I feel like jerking your chain tonight. You must be getting excited? All those listings piling up. All those flights from Shanghai and Beijing coming in. You need to go deep undercover at YVR and refuse entry to anyone who looks like they've got money.

anonywow
anonywow
8 years ago

@RippedtoShit:

Now there's the WoW/RJ/Ripped to Shit we all know and love. RJ, tell us, what did you do with that condo you bought 18 months ago? The one Chipman told you he could get you a better deal on by letting the seller's agent cut him in on 50%. Did you sell it? How big was the loss or maybe you broke even?

paulb.
paulb.
8 years ago

@Patient Renter:

I would love to help you find a bargain in Kits. Email me at paulboenisch@gmail.com and we can get the ball rolling!

RippedtoShit
RippedtoShit
8 years ago

I am hearing that a lot of smaller developers are having problems selling units (I'm talking about 10-50 unit developments).

I hear that they are starting to get stressed.

McLovin, is that trucker friend of yours getting as much work as last year? I hear that that industry is also slow.

jumpin in
jumpin in
8 years ago

Tell me if I am wrong, but I am pretty sure that Sitka started with 2 bedroom condos in the 1 million+. I would have never expected to see those down to 738 k by now.

http://www.realtor.ca/propertyDetails.aspx?proper

RippedtoShit
RippedtoShit
8 years ago

I would love to see the east side explode with new listings and a massive swamp of For Sale signs.

Something makes me doubt that open houses will be buzzing this spring.

Vultures are circling above us.

RippedtoShit
RippedtoShit
8 years ago

Default,

Pull your panties up man.

This is just the beginning.

Meth nailed it. HAM are coming this time with empty suitcases to cash in, all at once.

They smell a corpse, and want to move on.

This shit could get deep fried right quick.

Anonymous
Anonymous
8 years ago

148 properties for sale for UBC alone ?!?!?! In mid-January?!

Patient Renter
Patient Renter
8 years ago

@Best place on meth:

Alright, pretty short list, then. Paul, let me know if you want to sell me a condo in Kits.

Anonymous
Anonymous
8 years ago

From Larry:

Vancouver East & West*

New Listings – 136

Back On Market Listings -4

Price Changes – 14

Sold Listings – 14