canadian mortgage rules: Tighter Mortgage Rules Take Effect Oct. 17 for Canadian Homebuyers - 10/07/16 06:45 AM
In a move to ensure that Canadians can still afford their mortgage payments in the event interest rates start to rise, Canada’s Department of Finance has announced tighter new rules for borrowers who are applying for a mortgage.
Bill Morneau, Canada’s Minister of Finance, announced the measures Oct. 3. The government says the changes were developed following consultations with housing experts and provincial and municipal leaders across Canada on the state of Canada’s housing market.
In one of those  changes, a “stress test” that used to be part of only some mortgage applications  will now be required for all applications for insured mortgages.
If … (1 comments)

canadian mortgage rules: REMINDER: Canada’s new mortgage insurance rules take effect Feb. 15 - 02/11/16 10:43 PM
New mortgage insurance rules
take effect Feb 15th 2016. 
 
 
It is not expected to have a big impact on the Ottawa real estate market, but it’s still good for buyers to be reminded of new federal rules on mortgage down payments that take effect Feb. 15 and will affect homes priced between $500,000 and $1 million.
 
If you are buying a home selling for between $500,000 and $1 million, you will have to pay a larger down payment to qualify for mortgage insurance than was required in the past. The new rules apply to new mortgage loan applications received on Feb. 15 or later. … (0 comments)

 
Nancy Benson, Award Winning Agent | Buy |Unique Homes| Sell (RE/MAX Hallmark Realty Group, Brokerage)

Nancy Benson

Award Winning Agent | Buy |Unique Homes| Sell

Ottawa, ON

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RE/MAX Hallmark Realty Group, Brokerage

Address: 610 Bronson Avenue, Ottawa, On, K1S 4E6

Office: (613) 788-2556

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