Tagged : Canadian mortgage lending rules 
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Mortgage rules about to change: What it means to the Calgary Real Estate Market and you
Friday, March 26th, 2010 at 4:14pm. 978 Views, 0 Comments.
There is big news for those of you who pay attention to the mortgage market in Canada: starting April 19th the rules regarding mortgages will change and while not too dramatic, they will affect many homeowners and investors in Calgary Real Estate and across Canada. The motivation behind these alterations appears to be to prevent people operating within the Canadian real estate market from taking on too much debt. In order to achieve this goal, the government is enacting three major changes:
1/ Changes to qualifying rate:
The first big change within this new legislation will be to require those qualifying for a mortgage to have that qualification based on a five-year fixed rate regardless of the actual rate they negotiate. While those who are looking for…
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