2012 saw some significant mortgage changes and restrictions as rules were stiffened by our federal government to curb irresponsible real estate spending (and lending).
We saw amortization periods drop from 30 to 25 years, investment property purchases require a minimum 20% downpayment and the tightening of income requirements for those who ...
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There has been a lot of media coverage over the past week or so concerning the new mortgage rules soon to be implemented.
The following article was on the front cover of Thursday’s Globe & Mail…give it a read if you haven't already.
"Flaherty Clamps Down on Mortgage Rules to Cool Overheating ...
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