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PostPosted: Fri Mar 15, 2019 8:03 am 
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Joined: Fri Feb 01, 2008 2:35 pm
Posts: 527
On March 19th, the new federal budget will be released. Here are some of the changes that are on the table:

- increased amortization for insured and insurable mortgages to 30 years.
- increase to the maximum purchase price for insured (CMHC) and insurable mortgages (currently maximum purchase price $1 million).
- increase to the maximum RRSP limit for the first time home buyers program (currently $25,000).
- reduction of stress test, where currently all mortgages (with few exceptions) have to qualify based on a higher rate than what payments are based on.

I'm not saying all these changes are going to take place, however it's quite possible that we may see some of them. We'll find out for sure on March 19th.

_________________
Paul Meredith
Mortgage Broker
CityCan Financial (est 1976)
416-409-8009
http://www.easy123mortgage.ca
paulm@citycan.com
Lic#10532

Follow me on Twitter! http://www.twitter.com/paulmeredith


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