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Originally Posted by Realtor 1
^ no kidding. Any deals submit prior to May 1 are not applicable to the outrageous change. Something like $5 a month on a 300k property with 5% down.
Just received an email from a mortgage broker that states they plan on reviewing the rates every Q1. As it sits right now it has been 20+ years since the last change.
I wonder if this is a plan to raise rates higher over the span of 5 years?
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Not quite. From the article:
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CMHC had not raised its prices since the late 1990s, and actually lowered them between 2003 and 2005.
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