According to the National News last night, we are in a booming real estate market throughout Canada. The average growth rate in British Columbia over the last 5 years has been 11%. The benchmark price of the average home in Vancouver is now $564,000,
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The Federal Government recently reduced it's minimum required mortgage down payment for mortgage default insurance from 25 per cent to 20 percent. Ths means that in order to avoid CMHC insurance you now only need to put down 20% of the total payment
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