A change to the benchmark by the Federal Government means a mortgage rule change effective March 21st 2020. The reduction in the benchmark from 5.19% to 5.04% will allow everyone to qualify for more on a purchase , refinance or switch of their mortgage.
The rule change for high ratio borrowers that was to take effect on April 6th has been cancelled.
Consult your independent mortgage planner to review your specific situation. We are here to help
Blue Tree Mortgages West
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