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Real Estate News

What Do Recent Mortgage Rule Changes Mean to You?

What Do Recent Mortgage Rule Changes Mean to You?

New rules announced by the Federal Government on October 3 will make it more difficult to qualify for a loan. Effective October 17, all homebuyers requiring mortgage insurance must quality based on the posted rate for a five-year term, now 4.64 per cent.  The impact of this change is that many consumers will receive smaller

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