Mortgage Rule Changes Will Make it More Difficult to Buy!!
Lenders and policy makers are currently in discussions to change the mortgage rules again!! They are currently debating reducing the maximum amortization period back down to 25 years. This will make mortgage payments higher and will reduce the overall amount of a mortgage you will be able to qualify for.
They are also having discussions about increasing the amount of down payment required to buy.
Both of these will have a huge impact on your ability to buy, and how much you will be paying monthly. If you are thinking of buying you should consider buying right now before these changes come into being.
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Tags: budgeting, buying, Edmonton Mortgage Rates, edmonton real estate, Finance, housing market, Real estate news
