CTV Morning Live: Mortgage Minute- April 10, 2019

Date Posted: April 12, 2019

Frank Napolitano of Mortgage Brokers Ottawa joined industry professionals at Queens Park this week to discuss changes and the proposed changes in the 2019 federal budget.

Thee discussions centred around the impacts of the stress tests and affordability concerns for younger or first-time home buyers. Another point was made regarding mortgage renewals and qualifying with the stress test. The land transfer tax was rumored to increase which, again, the mortgage industry has recommended against.

When it comes to new and expanded infrastructure, the mortgage industry is recommending adding areas of affordable housing surrounding the stations to allow individuals to commute without the need of a car.

Another suggestion was to allow for secondary suits to allow for accommodation for family or potential rental income.

Watch the clip from CTV Morning Live here.

Contact your Mortgage Broker today to find out more.