New rules for mortgages
February 19th, 2010Our housing market is healthy and stable. The federal government wants to keep it this way.
On February 15, 2010, The Hon. Jim Flaherty, Federal Minister of Finance, announced changes to rules for government-backed insured mortgages. To prepare for possible higher interest rates:
• Borrowers must meet standards for a five-year fixed rate mortgage even when choosing lower interest or sho ...