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By Stefania Di Verdi on July 4, 2012
Estimated reading time: 1 minute

Mortgage clock

By Stefania Di Verdi on July 4, 2012
Estimated reading time: 1 minute

The average Canadian homeowner has 15 years left on their mortgage but that number could fall in the coming years.

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How many years do you have left on your mortgage? The average Canadian homeowner has 15 years left before their home is fully paid off, according to a new BMO survey. New lending requirements being ushered in Monday could force this number down even further in the years to come, experts at the bank said. Meanwhile, RBC and TD said Wednesday that Ottawa’s new restrictions designed to cool the housing market may hit the economy harder than intended.
The federal government won’t be charging a tax on microSD memory cards used to house music and photos on mobile devices. Copyright lobbyists had requested the surcharge to protect original content but Industry Minister Christian Paradis said “additional fee on removable memory cards is not only unwarranted but unfair to Canadian consumers.”

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