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New Mortgage Rules Effective January 1, 2018
December 19, 2017
Team Weir would like to draw the attention of 2018 buyers and sellers to new mortgage rules taking effect on January 1, 2018.
“New mortgage rules coming into effect on Jan. 1 won’t trigger home price decreases, according to Royal LePage’s 2018 outlook for the Canadian housing market.
The real estate powerhouse sees home prices climbing 4.9 per cent by the end of next year, up to $661,919. The estimate is based on a composite price index that measures home prices in 53 Canadian cities.
The impact of the regulations won’t be exactly nil.
“The new measure will slow the housing market, particularly in the first half of 2018, as buyers adjust both their expectations and finances,” reads the report.” – Global News
To read this article in it’s entirety please visit, Here’s what mortgage rules will do to home prices in 2018: Royal LePage.
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* Based on gross closed and collected commissions from 16 November – 15 November
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