Quote:
Originally Posted by ranchlandsselling
How long ago were the 30 year amortization introduced? Obviously awhile before the 35's.
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They were all introduced by the CMHC in 2006 after the Conservative government came to power. From 2005 to 2006 it went from 25, to 30, then 35, and finally a 40 year max amortization. The CMHC also started to back 0% down mortgages starting that year.
http://www.canada.com/nationalpost/f...f318e2&k=20358
I think in the future we're really going to look back with disdain at what the government and the CMHC did starting that year.