Canada's Finance Minister is about to announce changes in the Real Estate Mortgage industry in an effort to tighten the rules.
It is understood from government officials familiar with the new plan that a debt-affordability test may accompany any purchaser of a government-insured mortgage.
The amortization period might be limited to 30 years under the same plan that will be announced in Ottawa February 16Th.
The Bank of Canada Governor continues to pledge to keep the main interest rate at a record low of 0.25 per cent through June.
Toronto Real Estate continues to show gains in sales and average prices and as a result there is now talk of a housing bubble.
Just perhaps a rate increase and change in affordability might just slow down the Real Estate market.
Whether
you are looking to buy or sell Toronto downtown Condos you will need an experienced and knowledgeable Toronto Remax Realtor to guide you through the downtown Condominium market.Related Posts:
Posts
