Bank of Canada Announces New Mortgage Rules

on Thursday, 21 June 2012. Posted in General Interest

Vaughan Real Estate agent David Ursino video blogs about the new mortgage rules from Bank of Canada taking effect on July 9, 2012

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Vaughan Real Estate agent David Ursino video blogs about the new mortgage rules from Bank of Canada taking effect on July 9, 2012.

  • Amortization period on insured mortgages to drop down to 25 years from 30 years
  • Maximum limit of refinancing on homes reduced to 85% instead of 80%
  • No more insured mortgages available on $1m+ homes