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%…

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