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How Do New Mortgage Rules Affect You?

New mortgage restrictions announced in February by Finance Minister, Jim Flaherty, are now in effect. They are: •Borrowers must now qualify for five-year fixed mortgage rates even if they are applying for shorter-term, variable rates. •The maximum amount that Canadian home owners can withdraw for mortgage refinancing drops to 90% from 95% of the value of their properties. •To qualify for government-backed ...

Investors: 50% Probability of Mortgage Rates Rising by June 1

On April 13, major banks hiked interest rates – leading into what may be the busiest period of home buying activity in recent memory, says the Financial Post. Eric Lascelles, chief economics and rates strategist for the Toronto-Dominion Bank TD Securities Unit, told reporters that investors now agree that there is a 50% probability that Bank of Canada rates will increase as early as June 1. ...
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