Fri, Oct 24, 2014
A A A
Welcome hendrik.absolut
RSS

Real Estate Briefing - Categorized | Market Moves, Regulatory more

Canada: Economy, new laws support strong housing sector: CMHC

Posted on 30 August 2011

New rules brought in by the federal government have caused a sharp reduction to mortgage refinance activity, the Canada Mortgage Housing Corporation said Monday. Finance Minister Jim Flaherty altered mortgage finance rules early this year, restricting Canadians to borrowing 85 per cent of their home’s value, as opposed to the previous 90 per cent.
Under Flaherty’s new rules the maximum amortization period was also reduced from 35 to 30 years, in cases where the down-payment is less than 20 per cent……………………………………….Full Article: Source


 Article link

This post was written by:

Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


Contact the author

Comments are closed.

banner
October 2014
M T W T F S S
« May    
 12345
6789101112
13141516171819
20212223242526
2728293031