Last Week's News: Minimum 5% and Maximum of 35 Years
I was pretty busy last week and didn't get the posts out about the big news that the 40 year mortgages and 0% down option will be eliminated on October 15th, 2008. I don't have too much to add to the discou 
rse on this. I have not worked with many buyers using either of these options. I am sure it will keep some buyers out of the market who should not have been in the market and may protect those people from future financial woes.
I actually learn about this news from fellow Vancouver real estate agent and blogger Larry Yatkowsky when we met for a drink last week. There have been lots of opinions out there on this. Agent Will, Will Wertheim, had a post about it too.
And here is a Globe and Mail story. Do you have one of these mortgages? Why did you choose it? Do you plan to take 40 years to pay it off or will you make additional payment over the years?
Matthew Collinge: Vancouver REALTOR®
