Macrealty February 2011 Market Update
February 28th, 2011
February 2011 Market Update
On January 17th, Finance Minister Jim Flaherty announced new federal rules on government-backed Canada Mortgage and Housing Corporation (CMHC) mortgages. The new rules will:
- Reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than 80 per cent.
- Limit the maximum amoun ...