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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Monday, October 31, 2016

Mortgage rules will hit Quebec sales at least as much as 2012 change

The new mortgage rules are certain to result in a slowdown in the Quebec housing market, the body representing the province’s real estate boards says.

The Quebec Federation of Real Estate Boards (QFREB) has significantly downgraded its market outlook for 2017 and says the short-to-medium-term impact of Ottawa’s rules are definite.

"The impact on the number of sales will be, at a minimum, as great as the 2012 tightening of the mortgage rules which reduced the maximum amortization period from 30 to 25 years,” explained Paul Cardinal, Manager of the QFREB's Market Analysis Department.

The Federation also believes there is a real risk to home prices in the province which would likely result in a negative impact on consumer confidence.

The mortgage stress test will particularly hit first-time buyers, the Federation says, while the risk-sharing rule will mean higher mortgage rates.

MBN

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