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April 22nd, 2019 
Chaim Talpalar

Sales Representative

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5 Things You Didn’t Know About
the Canadian Mortgage Market 

The folks over at RateHub — a helpful website that lets you compare mortgage rates & figure out how much it will actually cost you to buy a house — have put together a nifty info graph that sums up the key findings of the latest report on the mortgage market by the Canadian Association of Accredited Mortgage Professionals (CAAMP).

Section 3 & 4 are particularly interesting: According to CAAMP, the recent tightening in mortgage rules has shut out some 9% of potential home Buyers — on average, it will take these Buyers an additional 3 ½ years to squirrel away enough money for a downpayment.  Also, a number of Canadians are using home equity to pay off other debt—nothing new here, but always scary to look at.

5 Things You Didn’t Know……

Please feel free to contact me regarding this article or about any real estate needs or questions that you may have. Call me at  416-804-0991 (client line) or 416-441-2888 ext 266 (office) or email for more information.


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