30 Year Amortization Announcement: A Nothing Burger? Yeah, this is pretty much Nothing. It’s okay in theory but if it can only be used by a tiny number of Canadians then what’s the point? Increasing the Amortization on Hi-Ratio CMHC mortgages to 30 years from 25 years is fine but ONLY for First Time Home Buyers and ONLY for new construction so how big a group will this effect between 2% & 3% of potential buyers. Yep that low: because Prices are too high, Mortgage Rates are too high & even at 30 years so few people qualify.
This content was originally posted on the Angry Mortgage YouTube Channel