The mortgage wars are heating up again - but - a local real estate board official says that doesn't mean it's getting any easier to qualify for a mortgage.
The big banks are duking it out offering a 2.99-percent interest over a four or five year period - and - while mortgage rates remain at historic lows -- Greater Saint John Real Estate Board president Jason Stephen says the federal government has pushed mortgage companies to be stricter when qualifying people.
He says lenders are spending more time verifying information including employment and down payments.
And Stephen predicts Ottawa will soon move to shorten the maximum mortgage terms from 30 to 25-years.
