New Mortgage Rules
February 16th, 2010Canada changes mortgage rules
Here are the main changes, to take effect on April 19, followed by some background on the Canadian mortgage insurance industry.
NEW RULES
* Borrowers must qualify for a five-year fixed-rate mortgage, even if they opt for a lower variable rate. Banks and insurers typically assess the borrower's gross debt service ratio -- the cost of financing their home relat ...
MLS® residential unit sales sprinted from an annualized rate of 50,000 units during the first quarter of 2009 to 112,000 units during the fourt ... 
