Hey look, it’s a mortgage broker referring to a huff-post article about TD bank comments on potential mortgage rule changes.
Alexander believes the most likely scenario would be the decreasing the maximum amortization period for a government-insured mortgage from 30 years to 25 years, the report said. Furthermore, Alexander said prospective homeowners who can’t afford a 25-year mortgage against a 30-year agreement probably aren’t in a financial position for home loans anyway.
Pretty thin rumor chain for more mortgage rule changes, but what do you think? Any chance we’ll return to the traditional 25 year amort for insured loans?