Subscribe Today!

Keep current on the latest mortgage news!

Sign up for our alerts and bulletins and we will keep you informed on a variety of mortgage related topics.




We are grateful for every referral we receive. If you have a friend or family member that’s considering a mortgage and you feel we can help, refer them to our web site now.

Simply complete the form below and we will email a link to our web site along with your personal message.

Please note that this is a private email between sender and recipient. Sharon Vander Duim does not view or store any information collected on this form.

New Mortgage Rules (AKA B-20)

Well the rules are here and we have to live with them!  It is frustrating for us as well as you, the clients.  Lenders are asking for every type of income verification: notice of assessments, tax returns, employment verification letters and current paystubs, bank statements; sometimes you think you have given everything but a blood test and lenders are asking for more.  I think that this is what it is going to be like for the next year for sure whether we like it or not.

Last spring the Feds were wishing that housing wasn’t so hot, mortgage growth wasn’t so robust, and now lenders are saying “Ottawa has to be careful what it wishes for” as  stricter mortgage lending guidelines will take a bite out of economic growth.  There is certainly no reason to panic when you are seeing in the media a 15% drop in year over year home sales.   Please remember that this is Canada wide and the major centres like Vancouver, Edmonton, Calgary needed to slow the “bus down” per say.  Thankfully, our area is in a growth cycle due to transit infrastructure being put into place and industry.. yes industry growth.
We ARE NOT going to see a U.S.  style mortgage fiasco, but yes we will feel some pain.  Real Estate activity has been the cement in Canada’s economic foundation.  Our Real Estate market helped Canada recover from the global economic crisis well before most other nations.