Federal Finance Minister Jim Flaherty announced that homebuyers looking to qualify for a government-backed mortgage after April 19, 2010 will need to meet three new requirements. The changes revealed this morning include: • Require that all borrowers meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term. • Lower the maximum amount Canadians can withdraw in refinancing their mortgages to 90 per cent from ...
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at Thu, 18 Feb 2010 12:51:51 -0800
TheBritish Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 118 per cent to 4,619 units in January compared to the same month last year. On a seasonally adjusted basis, MLS® residential sales in the province declined 16 per cent last month compared to December 2009.
“Home sales in the province eased in January as a result of waning pent-up demand and eroded affordability,” said Cameron Muir, BCREA Chief ...
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at Thu, 11 Feb 2010 11:44:14 -0800