Is it a good time to buy on the North Shore?
Julie Isaac says:
If buying a home or an investment property is in your plans, now would be a good time to move forward, with interest rates at historically low levels and further changes to mortgage rules being considered by the government.
Changes to mortgage rules can have more of an impact on qualifying for a mortgage than a change in interest rates.
2012 saw the federal government make changes to the rules for high ratio insured mortgages (less than 20% down payment) which meant 9% of purchasers who would have qualified before the changes could no longer qualify.