Finance Minister Bill Morneau announced changes to the rules for government-backed mortgage insurance this week.
The announcement represents a graduated approach to increasing the down payment requirement proportionally to the cost of a home. Canadians who already hold mortgages will not be affected by this announcement.
If you are planning to buy a home in the near future and have questions about how you might be affected by these changes, ASK ME!
I would be happy to assist you and find financing that is right for your needs.