Surprised I haven't seen this thread yet
Quote:
The Finance Department said yesterday it will stop backing mortgages with amortization periods longer than 35 years as of Oct. 15.
It will also start demanding a down payment equal to at least 5 per cent of the home's value, rather than guaranteeing mortgages where they buyer has borrowed the total amount.
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http://www.theglobeandmail.com/servl...ry/?query=CMHC