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MORTGAGE BROKERS WARN ABOUT REFINANCING RULES
Banking regulator wants homeowners' employment status and current income rechecked before loan renewals are approved. In the past, when mortgages came due for renewal, banks focused on the payment history.
This may all change as OSFI (Office of the Superintendent of Financial Institutions) hopes to release final rules by the end of June.
This would be a significant change in the mortgage and housing industry. Some homeowners' can expect to possibly be paying higher interest rates on their mortgages after the re-qualification process. Or be put in a situation whereby they will have to sell thier home's.
Burlington Sales Statistics
March 2012
Number of Sales and Pending Sales = 382
Avergae Sale Price = $$414,704
Apri 2012
Number of Sales and Pending Sales = 393
Average Sale Price = $389,724
The Burlington Real Estate market continues to be active. The number of monthly sales are pushing 400 tranacstions and values continue to hold.
These statistics are based on Burlington sales only and do not include any exclusive or private transactions. Statistics are provided by the Realtors Association of Hamilton and Burlington. Prudential By The Lake Realty, Brokerage nor its representatives assume any responsibility for any errors.
Visit this site every month for current sales statistics in Burlington.
Stratigies to get you the most money for your Property.
E-mail me today to recieve your SELLER'S package ! dzalepa@remax-gc.com
First Time Buyer?
Things you need to know when planning to Purchase your first home. For a first time BUYER'S package e-mail to , dzalepa@remax-gc.com
Watch for the www.theangryrealtor.com in the new year. It could be entertaining.
Call today to get pre-approved for financing or find out what the value of your property is in today's market place.
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