Monday, February 15, 2016

Starting today, mortgage insurers require 10% down payment on portion of mortgages above $500K

Beginning this week, many Canadians hoping to buy an abode will need to put more cash down before they can call it home. The extra cost might keep some would-be homeowners from mortgages they can't really afford, but it's unlikely to leave any lasting impressions on the country's most "overheated" real estate markets.
http://www.cbc.ca/news/business/new-mortgage-rules-down-payment-1.3440797