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Canada: New mortgage rules aimed at cooling hot housing market

Posted on 10 July 2012

New rules Ottawa announced last month that will tighten Canada’s mortgage industry go into effect today, but a major Canadian bank says many people are unaware of what exactly is changing.
In June, Finance Minister Jim Flaherty unveiled major changes to the limits of what the Canada Mortgage and Housing Corporation is allowed to insure, effectively tapping the brakes on a housing industry that many experts worry has become too hot………………………………………..Full Article: Source


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