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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!

Friday, November 17, 2017

Mortgage rates to trend higher says DBRS

The era of mortgage rates trending lower is coming to an end and some homeowners will struggle to afford payments.

The warning comes in a report from ratings firm DBRS which says that owners will find renewal rates edging higher and will experience a “payment shock” having become used to lower rates when renewing.

The biggest wake up call will be for those that last renewed their mortgage in the last five years while rates were trending lower. They will realize the impact of two BoC interest rate hikes this year and the likelihood of more in 2018.

DBRS calculates that a 1% rise in mortgage rates would mean a 9% increase in monthly payments for a loan with 20 years left. A 3% rise in rates would add 29% to the monthly payment.

The firm’s Sohail Ahmer told the HuffPost Canada that households should be ready to absorb mortgage payment increases of 15-20%.

MBN

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