New Government Mortgage Rules
Given the concern for household debt, the Harper government announced January 17th, 2011 several initiatives to support the long term stability of Canada’s housing market. In a nutshell: 1. Mortgage amortization periods will be reduced to 30 years from 35 years. 2. The maximum amount Canadians can borrow to refinance their mortgages will be lowered to 85 per cent from … Read More