Tanya talks about the new mortgage changes set for this month and the fact that there has been some uncertainty about the minimum down payment.
Tanya Rankin: Hi it’s Tanya Rankin in Williams Lake. I want to address just quickly a bit of misconception that I’ve been experiencing out there in the market and that’s to do with the mortgage changes that they’re gonna be an effect here in mid March. A lot of people are thinking that the minimum down payment is going to change and be moved from 5% up to 10% I know there’s a few lenders out there that have been a bit confused themselves and they’ve expressed that to some of the clients that I’m working with. I want to say that’s not happening I have checked with CMAHC they have said that’s definitely not happening and I think that you have to kind of realize a huge change like that would be all over the news. It will be a huge huge change so either way if you were under a little bit of confusion the minimum down payment is not changing it’s still at 5% for your primary residents and if you have any questions. You can always send me an email me to firstname.lastname@example.org and I hope you have a great week!