Residential Mortgage Rules Change – finally!

Recently the Government of Canada announced changes to the mortgage lending rules including: – Maximum amortization for a mortgage is 30 years (down from 40 and 35) – Refinancing a mortgage is limited to 85% of the property value (down from 90% and 95%) – Lines of credit will no longer be insured by CMHCContinue reading “Residential Mortgage Rules Change – finally!”