Meadbh
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 22, 2006
- Messages
- 11,401
As of today, it's going to be more difficult for marginal buyers to get a mortgage in this country.
Read more: http://www.cbc.ca/canada/british-columbia/story/2010/04/19/mortgage-rules-april-19.html#ixzz0labHKLGk
- All borrowers must meet the standards for a five-year, fixed-rate mortgage, even if they choose a variable mortgage with a lower rate or a shorter term.
- The maximum Canadians can withdraw when refinancing their mortgages drops to 90 per cent of the value of their home, from 95 per cent.
- Buyers must make now a minimum 20 per cent down payment — up from five per cent — to qualify for Canada Mortgage and Housing Corp. insurance for non-owner-occupied properties purchased as an investment.
Read more: http://www.cbc.ca/canada/british-columbia/story/2010/04/19/mortgage-rules-april-19.html#ixzz0labHKLGk