CMHC Says No More 40-Year Mortgages In Canada

Tightening of restrictions also eliminates zero-down-payment mortgages. Yesterday, the Canada Mortgage and Housing Corporation (CMHC) announced that it was pulling the plug on 40-year amortization periods for mortgages, stating that it will no longer provide its government-backed insurance for these products. Consumers will also have to come up with minimum 5 per cent down paymentContinue reading “CMHC Says No More 40-Year Mortgages In Canada”