The new rules as of Friday will make the maximum payback period 30 years — resulting in somewhat higher regular payments than with the 35-year amortization that has been the choice of about 30 per cent of home buyers.
I've talked about this before and now Friday is the day it takes effect. You can refer to my posting of January 20th Finance Minister Jim Flaherty's Proposed Mortgage Changes... for all the details.
By Sunny Freeman | Sun Mar 13 2011
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