Walter Venafro's (waltershomes) Blog

Canada's Finance Minister, Jim Flaherty announced New Rules today that govern Canadian Backed Mortgages These new rules are expected to come into force on April 19, 2010, preventing first-time home buyers from getting into financial difficulties when the interest rate increases. The move was prom...

The Federal government will likely make it tougher on downpayments and amortization terms if the housing market continues to heat up.  http://tinyurl.com/ydt7c66

The federal government has new rules for the mortgage industry that will make it more difficult for consumers to borrow. Canada’s mortgage insurance industry is dominated by Canada Mortgage and Housing Corp., a Crown corporation with 70% control of the market. The other 30% is controlled by Genwo...