So today is January 17th and the Government of Canada announced three new mortgage rules. – No more 35 year amortizations (for people with less than 20% down) – Maximum amount of re-finance is 85% of home value – Government will not insure HELOCs Let’s look at the big change: No More 35 Year Amortizations [...]
Big news just announced in the housing market is that Finance Minister, Jim Flaherty just announced the following changes to the mortgage rules in Canada: * Mortgage amortization periods will be reduced from 35 years to 30 years. * The maximum amount Canadians can borrow to refinance their mortgages will be lowered from 90 per [...]
Real estate news in Canada including buy and sell information, local market updates, guides, tips for Canadians in the real estate market.