Jason Neumann › 102 Hickey`s Wharf Rd, Websters Corner, PE C1A 7J8 › Blog › New Mortgage Rules take effect on Friday March 18 ,2011

Cheryl Kopko

Sales Representative

Miller Real Estate Ltd., Brokerage*

467 Speers Road

Oakville, ONL6K 3S4

cheryl.kopko@century21.ca
Office: 905-845-9180
Office Fax: 905-845-7674
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New Mortgage Rules take effect on Friday March 18 ,2011

Tougher mortgage rules take effect on Friday. The new leading rule changes on insured mortgages are;

1) Maximum amortiztion changed from 35 years to 30 years.

2) Maximum advance on refinancing your home reduced from 90% to 85%.

The upside to these changes is that the new rules will help to reduce the interest that Canadians pay.

Posted by Cheryl Kopko on March 14, 2011
Tags: mortgage Market Reports and Conditions
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