Despite “horror stories” about the difficulties of getting a mortgage, banks are willing to lend to qualified homebuyers, Barry Habib, chief market strategist at Residential Finance, told CNBC on Monday. But he stressed that the definition of “qualified” has reverted back to the standards of “10-15 years ago.”
Tag Archives: lending
Have Canada’s tougher mortgage rules created stronger borrowers?
The Globe’s Tara Perkins is joined by Andrew Charles, CEO of Canada Guaranty, and Benjamin Tal, CIBC deputy chief economist to discuss what effects strict rules and low rates are having on the housing market and buyers heading into the spring selling season.
Video: http://tinyurl.com/avhkk4y
Commercial lender confidence on the rise
The First Quarter 2013 Canadian Real Estate Sentiment Survey, released today, reveals confidence is up among commercial real estate lenders from Q4 2012. The survey is conducted quarterly comparing the opinions of the top commercial real estate executives across the country. Bosses are asked about the current and future outlook on market conditions, lending conditions and asset values.
The survey indicates that the current state of the economic climate has contributed to the buoyed activity in the commercial real estate sector.
Read more: http://tinyurl.com/c59h7va
Borrowing to Build Your Own Home
AS the housing market begins to improve, new homes are popping up again in prime areas. If lenders are staying away from speculative building projects, some are willing to finance new construction for buyers who put substantial money down.
Read more: http://tinyurl.com/bqrbbvo
Study: New Mortgage Rules Could Shrink Lending by 20%
Pending mortgage regulations could lock today’s tight lending standards in place and result in nearly 20% fewer mortgages being issued in the coming years, restraining home sales and construction, according to a new study.
Read more: http://tinyurl.com/8mqgmpu