Blog by Betsy Carstairs

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Financial World Tightens Lending Rules

I had some purchasers out last weekend who qualified under the minimum downpayment rules.

We found the perfect place for them and made an offer only to find out that this program had just been cancelled at the beginning of the weekend ... 2 weeks earlier than originally stated.

Canadian lending firms are shifting to an ultra conservative stance.

I can see that credit/mortgages are going to be hard to get.