Huge news has come down the pipe about changes to mortgage lending. Whether you are looking to buy a home or refinance a current mortgage, these changes will affect you. The changes will come into effect on July 9th, 2012 so if you have been considering mortgage financing, you may want to get it done sooner than later to ensure you …
New Mortgage Rules FAQ
On Thursday Finance Minister Jim Flaherty announced changes to the rules for government-backed insured mortgages for residential properties of 1-4 units in this announcement four new measures were announced effective July 9th, 2012 for new government-backed insured mortgages. Below are some of the frequently asked questions from prospective buyers and those homeowners who currently have an insured mortgage. Q. Why is the …
HARPER GOVERNMENT TAKES FURTHER ACTION TO STRENGTHEN CANADA’S HOUSING MARKET
As part of the Government’s continuous efforts to strengthen Canada’s housing finance system, the Honourable Jim Flaherty, Minister of Finance, today announced further adjustments to the rules for government-backed insured mortgages. “Our Government stands behind the efforts of hard-working Canadian families to save by investing in their homes and their future,” said Minister Flaherty. “The adjustments we are making today …
May, 2012: Lower Mainland Real Estate Market Update
WARMER WEATHER GENERATES ACTIVITY IN FRASER VALLEY’S HOUSING MARKET (Surrey, BC) – Home sellers and buyers in the Fraser Valley took advantage of the first warm spell of the year triggering an increase in new listings and keeping sales steady last month. The Fraser Valley Real Estate Board posted 1,616 sales in May, an increase of 13 per cent compared …