October 2016

There are 1 blog entries for October 2016.

Edmonton Home Mortgage

Prime Edmonton Real Estate - This week's sudden change in residential home purchase financing regulations have not been well received by the real estate industry or home buyers. The Government of Canada has chosen to set a rate for all mortgages with less than 20% down to a level that is much higher than the current competitive rate, and has only given Realtors, home buyers, and mortgage brokers a few weeks to adjust to the new rules. Given this sudden unexpected change in banking rules gives another good example of what is most important as a home seller or buyer.

The Bank of Canada has announced that they will be increasing all CMHC mortgages, or those that have less than a 20% down payment, from the current competitive rate of 2.35 to over 4.5%

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