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