Canadian Mortgage rules changing
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The federal government announced this month it will no longer insure mortgages with an amortization period greater than 35 years.
Ottawa will also now require a minimum down payment of five per cent for government-backed mortgages.
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http://www.canada.com/calgaryherald/...3-343857673687
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However, the changes are being made "to ensure Canada's housing market remains strong and to reduce the risk of a U.S.-style housing bubble developing in Canada," the government says.
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I can see this causing a short spike in prices as buyers try to beat the deadline, then the housing market will slow for a few years while people save up the 5% down payment.
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