Mortgage shakeup on tap

There's so much stuff, but so little time and space. Often, there's a dearth of financial news of import during the summer. This week, it's different. The feds announced a week or so ago that high-ratio mortgages in Canada, the type that are for more than 75% of property value and insured, are being "conservatized". No longer can amortizations exceed 35 years. Gone too is the zero down payment option. Existing mortgages aren't affected by the new rules. Read More

 

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