Tag: Changes

New mortgage rules

I thought I would help summarize the most recent changes in mortgage rules. There has been plenty of discussion: The Federal Government announced this morning four new clampdowns on insured mortgages that will quickly come into effect on Monday, July 9th, 2012. These changes include: Reducing the maximum amortization period to 25 years from 30 […]

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Flaherty unveils new rules aimed at curbing soaring household debt

The Canadian Press Jan 17, 2011 08:15:00 AM OTTAWA – Finance Minister Jim Flaherty has announced new mortgage regulations aimed at reducing Canadians’ soaring household debt. Flaherty has unveiled three new rules: Mortgage amortization periods will be reduced to 30 years from 35 years. The maximum amount Canadians can borrow to refinance their mortgages will […]

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