Interesting news filtering in this morning, that CMHC had been warned about the burden it was placing on borrowers of home loans with minimal downpayment and long term amortization, and it's potential effect on the current economic crunch. In February 2006, U.S. based insurance companies were allowed to insure mortgages in Canada, and this competition for market share saw the introduction of mortgage products beyond the traditional 25 year Amortizaton, and 25% Downpayment. CMHC said the introduction of the new mortgage products "reflected the market trends for the period". Interesting indeed.
Are you ready 2 move? Send an email to szabolcs.pall@century21.ca
 |
|
|
The unrivaled realtor in online marketing
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
