• At Robert Floris’ Mortgage Architects office in Hamilton, Ontario we try to be:

    1. Ahead of the Real Estate and Mortgage curve.

    2. To give information as if our roles were reversed for our information seeking client.

    3. Keep our integrity in this convoluted industry.

    In researching today’s topic, I kind of laughed. The regulators are warning banks to be careful. Trust me, the Canadian banks have been very stringent for the last year in approving mortgages. the theory being, that mortgage interest rates will not remain low forever. Between the banks themselves and the Canadian government tougher underwriting criteria has started years ago. Most residential mortgages have a new higher rate standard. In other words, although today’s 5 year fixed rate is approximately 2.69%, new mortgages must qualify at 4.64% in order to receive this cheap rate. The theory being, if rates do go up, mortgagors can qualify.

    In my humble opinion, this is a very prudent strategy. The banks are too smart to wait for the regulators, since they continue to measure risk on a continual basis.


    Robert Floris is a mortgage agents serving Hamilton, Ontario with his Mortgage Architects office located in Hamilton, Ontario on the East Mountain. Robert serves Hamilton, Ontario and the rest of Canada specializing in mortgages for new home and resale home purchases, refinancing, debt consolidation and loans for home renovations.

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