The question most heard yesterday was, “what 5 year rate will they have to qualify on?”.
It will be the 5 year rate at that institution granting the commitment. As the client was having to qualify on that institutions 3 year rate, it will now be their 5year rate.
The changes will take place on April 19, 2010.
• TSX +116.56 rose to its highest level in more than 3 weeks as oil and gold prices soared, leading resource issues higher, and as risk appetite returned to the market.
• DOW +169.67
• Dollar +.50c to 95.83cUS A weaker U.S. dollar served to boost the prices of oil and gold, both important Canadian exports
• Oil +$2.88 to $77.01US per barrel.
• Gold +$29.80 to $1,119.40 USD per ounce
GOVERNMENT OF CANADA TAKES ACTION TO STRENGTHEN HOUSING FINANCING
Wednesday, February 17, 2010
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