There are a number of items in the works right now to protect Canadian mortgages. With the realization of what has happened south of the border more concern is raised over added protection. The forty year amortization mortgage introduced just over two years ago will be omitted this year. Experts think it will be in order to provide protection for tax payers from home owners who default on their mortgage payment. Although Canada’s economy remains sturdy there is much more interest now in providing measures that ensures it stays that way. Potential homeowners who cannot give a twenty percent or more down payment will need to get mortgage insurance. Now the Canadian government may make it more difficult to get that insurance. The plan to do this is by raising the minimum credit raising score for applying for mortgages.

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