Category Archives: Victoria Real Estate Board
HARPER GOVERNMENT TAKES FURTHER ACTION TO STRENGTHEN CANADA’S HOUSING MARKET
Written on June 24, 2012 at 11:26 am, by Ingrid Jarisz
Recently the Minister of Finance announced changes to the standards governing government-backed insured mortgages: the maximum amortization period was reduced from 30 years to 25years; the maximum amount Canadians can withdraw in refinancing their mortgages was lowered to 80 per cent from 85 per cent of the value of their homes; the maximum gross debt Continue Reading »