Back to accessibility links

Federal government tightens mortgage rules

June 21, 2012

On June 21, 2012, Ottawa tightened rules on mortgage lending in the country, reducing the maximum amortization period to 25 years, down from 30.

Here's a visual look at how these changes (effective July 9) would affect one homeowner's mortgage payments using a five per cent sample interest rate.

 

Mortgage rules changes

Sources: Canada Mortgage and Housing Corporation mortgage calculator,
Canadian Real Estate Association, CBCNews.ca
[by Ruby Buiza/CBC]





Story Social Media

End of Story Social Media



TIFF 2013 red carpet highlights

Afghanistan soccer fans celebrate big win