Today's post is about as jumbled as my mind is right now. Coincidence? I think not.
Canada is changing their mortgage rules:
There's 3 fairly substantial changes with the new bill:
As of March 18:
Maximum amortization periods for mortgages with less than a 20% downpayment will be reduced from 35 years to 30 years.
The maximum you can borrow when refinancing your home is reduced from 90% of the value of your home to 85%
As of April 18:
home equity lines of credit will no longer be backed by government insurance.
I can understand the government pulling back the amortization period. For a while there the periods were getting longer and longer to the point that a lot of people were taking out mortgages they wouldn't be able to pay off in their lifetime. I could foresee them eventually pulling it back to 25 years from 30. It kind of sucks for young home buyers, especially since housing prices are still so high here, but it's a necessary evil to prevent worse things from happening. *fingers crossed*
Some of you may have read about me slapping my head about being too cheap a couple days ago:
Update, I ordered internet service to be set up. I'm waiting for them to call me about an installation appointment.
I also found another place I shouldn't have been cheap on: TISSUES! That's the last time I buy non-lotion tissues just because they're on sale. My poor nose is not happy right now.
Also, I got another Vicks Vapour Rub tip from a friend: put it on the bottom of your feet! Works like a hot damn. Check out more ideas here.
And finally, thank you to everyone who dropped by for a read today. I just hit 1000 page views. Love you all!
Off to the doctor's office now.