Valueland's blog

Minimum Down Payment Increases Starting Feb. 2016

Finance Minister Bill Morneau made the announcement earlier this morning that the minimum down payment for purchase will increase effective Feb. 15, 2016.

The new policy only affects houses that are more than $500,000.

Housing Market Trend: Low Borrowing Rates; Possible Minimum Down Payment Increase.

On December 02, 2015, Bank of Canada has announced to remain the overnight lending rate at ½ per cent. Our current prime rate stays unchanged at 2.70%.