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New Mortgage Rules to be Announced Monday, Say Papers

New-Mortgage-Rules (2)If CTV, the Globe, and the Post are right, Canadians can say goodbye to:

  • Refinances up to 90% LTV
    (Insured refinances are reportedly being cut to 85% LTV maximum)
  • 35-year amortizations on high-ratio insured mortgages
    (The maximum is reportedly being cut to 30 years)

These papers quote sources claiming the government will announce these changes today.

In addition to the above, the government will reportedly:

None of the above is confirmed as of the time of this story. We’ll check later today if the news breaks.