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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!

Tuesday, August 29, 2017

TD Bank warning over OSFI mortgage proposals

Further increases in mortgage regulations could see a significant cut in housing demand according to a new report from TD Bank.

In its regional housing outlook published Monday, TD chief economist Beata Caranci and economist Diana Petramala say that despite “unprecedented” housing policy changes in the past 18 months, the impact on demand so far from federal changes has been “flat relative to expectations” at around 2%.

However, they believe that this was due to the policies targeting insured mortgages, a shrinking share of the market as more borrowers move to conventional loans.

Provincial policy measures, such as the foreign buyers’ taxes introduced in BC and Ontario, have had a larger impact on housing demand, leading to sales declines.

The report notes that OSFI is proposing additional tightening on uninsured mortgages with income tests at 2 percentage points above the contract rate. If this happens, TD’s economists forecast a drop in demand of 5-10% and a drop in average house price level of 2-4% for 2018.

MBN

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