I'm stressed and my crystal ball is broken.

In last night's Halloween festivities, I dropped my crystal ball and darn if I can't get it going again. It's a pretty handy tool and I'd love a quick fix. Right now, I'd use it to determine how the upcoming mortgage stress test will affect home prices and market conditions come January 1, 2018. The stress test is essentially a two-point rate hike for uninsured borrowers, those of us who have more than a 20% downpayment. Today, you may be able to qualify for a mortgage at five-year fixed rates under 3%. On January 1, say hello to 5%. I don't need my crystal ball to see that you may of 20% more income to get the same bank mortgage that you could get today. Happy new year!

So that's all for today folks. If you need a mortgage expert help you navigate these waters, don't hesitate to reach out. I know who you should call.

Also, know anyone who's looking for an amazing family home in North Vancouver? 5261 Nancy Greene Way, my featured listing below, let's you live where you do all the things you love. It's sharply priced at $1,858,000!