Quote:
Originally Posted by Crisis
Not exactly, but they are fronting people the money for the down payment for a home purchase at a very low rate. Here's a recent story about it from the S-P:
http://communities.canada.com/saskatoons...oon-s-mortgage-down-payment-program.aspx
I'm not a fan of the idea, though. My concern is that it is going to get people into houses that they can't afford and when mortgage rates move up, people will be losing their homes. |
Yes it is pretty funny that the Feds are tightening mortgage rules to avoid this at the very same time the City is doing the opposite. Our governments at work!