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Mortgage rules tightening up again.


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Blog by Bettina Reid | June 20th, 2012


The federal government once again has decided to implement more changes to prevent Canada from falling into the same situation as the US. This is the 4th time in 4 years they have made changes. The biggest change will be the 30 year amortization down to 25 year for government insured mortgages, as well as dropping the amount you can borrow from the equity in your home from 80% to 85%.

http://www.cbc.ca/news/business/story/2012/06/20/mortgage-rules-tightened.html

What do you think of these changes?