New Mortgage Rules Take Effect October 17th 2016

General Mark Goode 4 Oct

The new mortgage QUALIFYING RATE for all high ratio mortgages (high ratio meaning less than 20% down) must now qualify at the Bank of Canada rate of 4.64% even with a fixed mortgage rate. This change becomes effective as of October 17th 2016. Any purchases approved prior to this date will not be affected by this change.

 

Thank you, Mortgage Man – Dominion Lending Centres – Top Mortgage Broker in Orillia

 

Mark Goode AMP / MarkGoode.ca / 705-326-8523 / 1-866-326-8523 / 180 Memorial Avenue Orillia, ON

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