Fraser Valley Real Estate Buzz - Episode #107 - January 17th 2011
Canadian Mortgage Changes and its Impact
Frank
Mihal talks about the new mortgage changes to hit Canadian homeowners
and prospective purchasers. The biggest impact to the public will be
for people who will be making a purchase. They will now have a maximum
of a 30 year amortization instead of 35. Loan to value on refinancing
also has a max of 85% with these changes. Frank doesnt think this will
affect the market on a large scale and was happy to see no change in the
minimum down payment to purchase. If you have any questions or
comments, feel free to contact Frank at http://www.FrankMihal.ca
