Halifax, Nova Scotia Mortgage Rules getting tougher.

I just flew back from a vacation in the States. This is the time of year when the Real Estate Market in Halifax, Nova Scotia and surrounding area just starts to wake up. If you know someone ready to buy or sell a home please contact me. I am never too busy for your referrals. Here is a photo I took from my iPhone flying into Boston for a connecting flight to Halifax.






So while I was away the Real Estate Market received a bit of bad news. January home sales were down slightly. (About 2.8% from December)


And there are new Mortgage rules coming that are going to make it even tougher for new home buyers to get Mortgages. Specifically, in the past, new homeowners were only subject to the standards of a three-year, fixed-rate mortgage. This standard will be raised to five-year, fixed mortgage rates as of April 19.



Below are images you can click on the read the full news articles on these two points:





Mike Smith is a Realtor in Halifax, Nova Scotia

Halifax, Nova Scotia Mortgage Rules getting tougher.