3 December 2013
Where can I get money if refinancing is not an option?
The recent report by CMHC shows a significant 81% decline in refinances in the third quarter.
“While purchase volumes rose by about 11%, the refinance volumes fell by almost 81% compared to the same period in 2012,” – the report said. “The latest mortgage rules tightening that were implemented in July 2012,eliminated refinancing in case of loan-to-value (LTV)rate higher than 80%…