new mortgage rules: Ottawa re-sale market sees its best October ever!
- 11/04/16 05:17 AM
A 27 % increase in sales of condominium units helped the Ottawa real estate market see its best October on record for property re-sales, the Ottawa Real Estate Board has reported. As a realtor who has helped customers buy and sell condo properties in central neighbourhoods for many years, dating back to long before the boom in condo construction over the past decade, I was delighted to see the surge in condo sales in the Ottawa market for the month of October. The Ottawa Real Estate Board reports that its members sold 1,214 residential properties in October of 2016 through the Multiple … (0 comments)
It is not expected to have a big impact on the Ottawa real estate market, but it’s still good for buyers to be reminded of new federal rules on mortgage down payments that take effect Feb. 15 and will affect homes priced between $500,000 and $1 million.
If you are buying a home selling for between $500,000 and $1 million, you will have to pay a larger down payment to qualify for mortgage insurance than was required in the past. The new rules apply to new mortgage loan applications received on Feb. 15 or later. … (0 comments)
A 27 % increase in sales of condominium units helped the Ottawa real estate market see its best October on record for property re-sales, the Ottawa Real Estate Board has reported.
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