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Mortgage Broker News | 15 Jan 2015, 11:12 AM Agree 0
Micro condos have been a hot topic in the mortgage industry, with several lenders shying away from these tiny units; but how do the insurers treat them?
  • Angela Wong-Liao - Invis | 15 Jan 2015, 03:05 PM Agree 0
    In view of the potential increase in interest rates, the recent massive layoffs from Targets, Sonys and others, micro condos may be a big issue in obtaining financing. I notice lenders have tightening up their guidelines, especially towards conventional, but high ratio is still difficult to determine despite both CMHC & Genworth have indicated that they will treat micro condos in the same way as other types of properties. I will caution clients in purchasing micro condos.
  • Ron Butler | 15 Jan 2015, 03:54 PM Agree 0
    Increase in interest rates????? 5 - year bond yield at 1.037 today - all time low in recorded Canadian history.
  • Navtaj Chandhoke | 15 Jan 2015, 04:10 PM Agree 0
    There is plenty of private funds available in the market.Recently the topic of micro unit financing came up during Professional Real Estate Investors Group (PREIG) Canada meeting.Professional real estate investors have found all type of different resources to finance their deals.If the major lenders do not want to do a deal,private lenders are happy to invest.
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