Politics
Tighter mortagage rules for Canadians: Flaherty

Canada's Finance Minister Jim Flaherty takes part in a news conference in Ottawa June 21, 2012.

Credits: Chris Wattie/REUTERS

QMI AGENCY

OTTAWA - Finance Minister Jim Flaherty announced Thursday tightened mortgage rules in an effort to curb the amount of household debt Canadians carry.

The maximum amortization period is now 25 years instead of 30, and the limit that we can borrow against our home equity is also lowered to 80% from 85%.

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