Impact of the New CMHC Mortgage Lending Rules on Condo Market

19 January 2011
Remax-Condos-Plus

More changes have been made by the Federal Government  to CMHC lending practices. Note that these rules do not apply to mortgages that are conventional (under 80%). The first change is to mortgage refinancing. Now existing owners can only refinance to 85% from 90% previously.