Homes in Russell has published a new article entitled 5 Things Ottawa Home Owners Need to Know About The New Mortgage Rules, which sheds light on the most important aspects of new mortgage rules for Ottawa Home Owners. People who want to buy or sell a home and other interested individuals can view the full article at http://homesinrussell.com/2016/09/21/newmortgageru…
The article includes several interesting pieces of information, one in particular is that the new mortgage rules can have a positive impact on new home owners. This should be of particular interest to first-time buyers because they used to be approved for a larger mortgage than they could comfortably afford, and this article demonstrates how the new rules focus on long-term stability.
One of the most important piece of information the article tries to convey and communicate is rather than mortgage rates increasing as is rumored, it’s the qualification standards that are changing. The best example of this is perhaps found in the following extract:
‘One way to look at the new rules is that while the stress test determines a potential home owner’s ability afford a higher rate, in actuality, the rates still remain around 2.5%. This translates to able to buy less house not NO house. Essentially, home owners will be safeguards against risks associated with buying a house that isn’t affordable.’
In discussing the article’s creation, Oriana Orr, Realtor at Homes in Russell said:
“I want to make sure my clients can afford their homes and not find themselves unable to afford their home after a couple of years.”
Regular followers of Homes in Russell will notice the article takes a familiar tone, which has been described as ‘supportive advice’.
Homes in Russell now welcomes comments and questions from readers, in relation to the article, as they are intent on finding the right solution for home buyers and sellers. The reason is simply because home buyers and sellers who are guided to make more realistic home buying and selling choices, will create a more stable financial future.
Anyone who has a specific question about the new rules can contact Homes in Russell via their website at http://homesinrussell.com/
The complete article is available to view in full at http://homesinrussell.com/2016/09/21/newmortgagerules/.
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