The Canadian government stopped insuring 100% and 40 year mortgages through the CMHC on October 15th which was supposed to tighten mortgage lending and help avoid a US style housing crash. 100% or $0 down payment mortgages enabled Canadians to …
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The Canadian government announced last week that they will stop guaranteeing 40 year and 100% mortgages through the Canadian House and Mortgage Corporation (CHMC) effective October 15th, 2008. The announcement stated: The Government of Canada today announced adjustments to the …
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