As expected, and as I had predicted back on October 21st, the Federal govt made their first major announcement last week. All new govts want to make a major announcement early… It shows they are doing something….So, here it is.
The new Federal Minister of Finance, Bill Morneau, broke the news on Friday. A change to the minimum down payment rules. That’s right, the minimum down payment to buy a house is going up…. well, sort of… Okay, that’s the headline … but now, keep reading for the real facts. Here’s a link to The Star’s article by Susan Pigg quoting yours truly…. Continue reading “Higher minimum down payment coming.. relax, it’s just political posturing.”