The end of 5% down mortgages in Red Deer?

If you were planning to purchase a house with just 5% down, you’d better hurry and buy one now! CMHC is hinting at the fact that they may no longer allow you to purchase a home with only 5% down. That means, if you don’t buy now and they change the rules, you will have to put considerably more money down. In 1979, the same thing happened when I was buying my first house! When I started looking at buying a house, I could purchase a home with 5% down and then overnight they changed it to 10% down! This made it much more difficult to buy a home.
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