Did you Know? Upcoming Changes to Mortgage Rules…

You might already know that Finance Minister Jim Flaherty has announced three major rule changes to government backed insured mortgages.  These include changes to the 5-year fixed qualification rate, 90% maximum refinance and 80% maximum rental financing.

These changes are scheduled for April 19th, 2010, however many lenders will implement these changes in advance on April 9th, 2010.

For more information please visit…

http://www.fin.gc.ca/n10/10-011-eng.asp

http://www.fin.gc.ca/n10/data/10-011_1-eng.asp

Sutton Member Team

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