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2.99% for a 5 Year Fixed Mortgage? The Catch Explained!

Lowest 5 year Fixed Rate Mortgages in Canada Ever! The Finance Minister and the heads of the Big Canadian Banks have recently been alluding to the fact that the property market in Canada, particularly in the real estate markets in Vancouver and Toronto may be getting a bit too hot for their liking based on the very low interest rates we are seeing in Canada right now. And then came this... 2.99% on a 5 Year Fixed Mortgage? Whats the Catch? This is the lowest 5 Year Fixed Rate Mortgages have EVER been! I recently interviewed Vancouver mortgage broker, Chad…

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March 18 Mortgage Changes & Vancouver Real Estate 2 of 3 Maximum Refinancing Reduced to 85% Loan To Value

March 18, 2011 Department of Finance Mortgage Changes Part 2 of 3 - Reduced Refinancing Maximum Loan to Value In January 2011, Canada's Department of Finance announced a series of changes to the lending rules for Mortgages that will come into effect in on March 18, 2011 and April 13, 2011. In part 1 of 3, Jessi Johnson and I discussed how the new rules shortened the maximum amortization from 35 years to 30 years for high ratio mortgages. In part 2 of this series Jessi Johnson will explain the changes to the refinancing rules. Call in Jessi Johnson, Mortgage…

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