Mortgage Bytes

  • Mortgage-Paperwork Lenders and lawyers will soon rely less on paperwork. Emergis’s electronic Assyst link can now get mortgage instructions from lenders to lawyers with a fraction of the time and effort.  The innovation could potentially lower real estate attorney fees, which haven’t changed in 20 years according to the Canadian Bar Association.
  • Home sellers are hitting the market out west.  Calgary saw 20% more real estate listings this June than last, as its average home price nears $500,000.  Vancouver’s inventory is up 17%.
  • Fear not, however, says Toronto Real Estate Blog, which quotes CREA as predicting 2007 Canadian home sales will break records.
  • MLS.ca‘s property search feature now has higher price limits, more pictures, and better sorting options.
  • Bathroom and kitchen renovations add the most value to your home (75-100% return on investment).  Swimming pools (10-40%) and skylights (0-25%) add the least.  Source:  The Record
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OSFI stress test announcement
Homebuyers to Face More Stringent Mortgage Stress Test After June 1
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