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Canadian Mortgage Changes and its Impact

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