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Szabolcs Pall

Sales Representative

Capital Realty Inc., Brokerage*

851 Richmond Road

Ottawa, ONK2A 3X2

szabolcs.pall@century21.ca
Office: 613-564-0021
Office Fax: 613-564-0026
Toll Free: 866-331-2121
Cell: 613-327-2521
Direct: 613-564-0021
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Risky Mortgages

Interesting news filtering in this morning, that CMHC had been warned about the burden it was placing on borrowers of home loans with minimal downpayment and long term amortization, and it's potential effect on the current economic crunch.  In February 2006, U.S. based insurance companies were allowed to insure mortgages in Canada, and this competition for market share saw the introduction of mortgage products beyond the traditional 25 year Amortizaton, and 25% Downpayment.  CMHC said the introduction of the new mortgage products "reflected the market trends for the period".  Interesting indeed.

Are you ready 2 move?  Send an email to szabolcs.pall@century21.ca

Posted by Szabolcs Pall on December 18, 2008
Tags: Canada CMHC Downpayment Economic Mortgage
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