Mortgage Rules are Changing Today

Andy Schildhorn • February 15, 2016

Today is the first day you’ll need to put at least 10 percent down on a home selling for more than $500,000 Canada. The new mortgage rules, announced last December by Finance Minister Bill Morneau, are intended to keep housing prices affordable for anyone wishing to enter some of Canada’s hottest real estate markets, such as Toronto and […] The post Mortgage Rules are Changing Today appeared first on Andy Schildhorn, PREC.

Today is the first day you’ll need to put at least 10 percent down on a home selling for more than $500,000 Canada.

The new mortgage rules, announced last December by Finance Minister Bill Morneau, are intended to keep housing prices affordable for anyone wishing to enter some of Canada’s hottest real estate markets, such as Toronto and Vancouver.

 

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