I looked today to see my balance and wow did I get a shock!

They'll likely go up, but to avoid mass financial shock to the older population, they'll go up slowly.

I think it would take pretty strong ecenomic shock felt globally to see it roll out otherwise.I also wouldnt be surprised if there was some relief provided in the mortgage stress rules.

I find the stories interesting as I try and see how I could use their experience and lessons learned to my benefit.My latest read is Ray Dalio's book who is the founder of Bridgewater (Very - Very successful Hedge Fund - That I frankly never heard of - Shocking but True)In the book Ray does a great job of breaking down is career, struggles and lessons learned in the first half and then spends time on the "Principles" he wants to share. 

NY state law will tell you how far in advance you have to provide written notice of an increase in rent....usually 60 days in many states, some are 30 days....then the debate will be do you do it all in one big jump or small increments as not to shock the current tenants enough to leave...... that's a debate on here in many posts

Needless to say I was in shock, and instantly took them that much more seriously.

I've had a lot of clients from Arizona that come to Utah and are shocked that a 4,000 square foot home is 2,000 up and 2,000 down not all on one level.

In your situation you'll probably need to just keep saving I'd be very interested to see what you get pre-approved for, but based on what you've told us I'd be shocked if it was anything over $250k which won't get you anything in the Bay Area. 

., the court found that in determining unconscionability, the trial judge may consider: 1) the amount of the proposed rent increase; 2) the landlord’s expenses and profitability; 3) how the existing and proposed rent compare to rents charged at similar rental properties in the geographic area; 4) the relative bargaining position of the parties; and 5) based on the judge’s general knowledge, whether the rent increase would shock the conscience of a reasonable person.

It’s pretty simple, if you can make a legitimate claim that it’s your primary residence there’s not reason cmhc won’t insure the loan.I’m pretty shocked a mortgage broker would give that point of view, it’s flat out wrong.