CMHC Changes Jan 17 2011

Author: Toronto Real Estate Admin / Category: News Bulletin, Today's Mortgage Rates, Toronto Real Estate

News Bulletin Jan 17, 2011

This morning the Finance Minister Jim Flaherty announced tighter mortgage lending conditions (CMHC Insured) , effective March 18, 2011, with the intent to protect borrrowers from “overborrowing” and improve their ability to manage their debt wisely in the event that interest rates rise.

The key points were as follows:


Amortization Rate
Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent. This will significantly reduce the total interest payments Canadian families make on their mortgages, allow Canadian families to build up equity in their homes more quickly, and help Canadians pay off their mortgages before they retire.


Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes. This will promote saving through home ownership and limit the repackaging of consumer debt into mortgages guaranteed by taxpayers.

Lines of Credit (effective April 18, 2011)

Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit, or HELOCs. This will ensure that risks associated with consumer debt products used to borrow funds unrelated to house purchases are managed by the financial institutions and not borne by taxpayers.


Note that lenders may put these changes into effect at their own discretion before March 18, 2011.

E.B. Dungey Realty Ltd. Brokerage – Welcome!

Author: Toronto Real Estate Admin / Category: Toronto Real Estate, Toronto Realtor

For over 50 years E.B.Dungey Realty Ltd. Brokerage has been the leader in home, villa, home site, and commercial property transactions in the Greater Toronto Area. Today, we are still the very best. And as the best in the GTA, we promise to only get better. Everyday we strive to take our company to the next level and will continue to lead the GTA real estate market in sales, listings, and satisfaction because we know that being #1 does not only come from how much business we do, but rather how well we do it. We stay on top by understanding that our clients aren’t loyal to us; they are loyal to the standards we represent. That’s why we can guarantee that in every aspect of business E.B.Dungey Realty Ltd. Brokerage is:

  • Always The Best
    Ensuring that everything we do is consistently superior to any other company in the entire GTA
  • Always Professional
    Representing our clients and company with confidence, class, and a visibly adept knowledge of the GTA market
  • Always Ethical
    Doing the right thing, the right way, every time


    The Best Real Estate Sales Professionals

    We pride ourselves in having the very best real estate sales professionals, guaranteeing you unsurpassable knowledge and years of success in this market. When it comes to being number one we keep our goals simple. Our goal is not to be the biggest real estate company in the area. It is simply to be the best.

    The Best Customer Service
    After being the best over fifty years, we have learned that our success is all attributed to our valued and loyal clients. That’s why we promise you the best customer service. Our agents and sales support staff are here to serve you. We value our relationships and appreciate your referrals, and we ensure you that you can always rely on the paramount level of service we provide.

    The Best Sales Support Staff
    With top producing agents and our convenient office location our level of business requires a certain level of support. We have the most talented and attentive sales assistants in the Greater Toronto market and they are always here to serve you and our sales professionals, ensure that your property receives the utmost attention and the highest level of exposure.

    The Best Results
    With over 50 years in real estate transactions our company has the experience and expertise to sell your property with the best service, at the best price, and in the best amount of time. With new and innovative marketing techniques, an aggressive mailing program, and the most visited website in our market you can be sure that working with the best will surpass your expectations and leave you more than satisfied with the results

    Governments of Canada and Ontario Celebrate New Affordable Housing in Niagara Region

    Author: Toronto Real Estate Admin / Category: News Bulletin, Toronto Real Estate

    Canada’s Economic Action Plan

    ST.CATHARINES, November 12, 2010 — The Government of Canada and the Province of Ontario announced today  $15 million to fund six affordable housing projects for low-income seniors, low-income families and persons with disabilities in the Niagara Region.

    Rick Dykstra, Member of Parliament for St. Catharines, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Jim Bradley, Member of Provincial Parliament for St. Catharines and Minister of Community Safety and Correctional Services, on behalf of the Honourable Rick Bartolucci, Ontario Minister of Municipal Affairs and Housing, along with Peter Partington, Niagara Regional Chairman made the announcement today.

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