Breaking News in the world of Real Estate!!! New down payment rules will go into effective February 15, 2016. The minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house price above $500,000, and the minimum down payment for properties up to $500,000 will remain at 5%. The changes are meant to reduce taxpayer exposure while supporting long-term stability of the housing market, according to the ministry.

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