How will the CMHC's Tightened Mortgage Rules Effect Nanaimo Real Estate?

On Friday April 25th, Tara Perkins from the Globe and Mail reported that The CMHC said that it will no longer insure mortgages on second homes effective as soon as May 30th 2014. Marion Patrick, long time Canadian real estate pundit and agent with Remax of Nanaimo said in an interview today “They say this change won’t affect Canada’s housing market in a significant way, but there are specific groups that will be affected." Nanaimo, BC (PRWEB) May 05, 2014 In order to protect Canada’s housing market The Canada Mortgage and Housing Corporation is making mortgage rules stricter once agai
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