Archive | March, 2016

Saskatoon Mortgage Broker shares article – New mortgage rules go into effect, part of Liberal plan to limit risks

Via/ TORONTO — The Canadian Press Published Monday, Feb. 15, 2016 Canadians looking to buy homes between $500,000 and $1-million will have to put down larger down payments as new federal rules took effect Monday. Under the changes, home buyers must now put at least 10 per cent down on the portion of a home that (…) Continue Reading →

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Saskatoon Mortgage Broker shares article – Government of Canada Takes Action to Maintain a Healthy, Competitive and Stable Housing Market

Via/ December 11, 2015 – Ottawa, Ontario – Department of Finance Finance Minister Bill Morneau today announced changes to the rules for government-backed mortgage insurance to contain risks in the housing market, reduce taxpayer exposure and support long-term stability. Effective February 15, 2016, the minimum down payment for new insured mortgages will increase from (…) Continue Reading →

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