Quote:
Originally Posted by hulkrogan
5 year mortgages are based largely off the bond market, so although prime will sit for 12 months, its very possible (and has been happening slightly lately) that 5 year rates will creep up as things recover.
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Agreed. They may go up a wee bit, but nothing to be concerned about, I'd say. Folks have bigger things to worry about than a rise of 25 bps.
Quote:
Originally Posted by Mike Oxlong
If you are borrowing funds to get to that magic 20% mark then it isn't CMHC guidelines you are worried about it is the lenders. A lot of lenders will allow you to borrow the down payment provided the additional debt load you are taking on does not screw up the debt ratios.
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Yes, as I said.