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Mortgage brokers busy ahead of rule change

from Mississauga News

Canadian mortgage brokers say they're seeing a flurry of borrowers trying to pre-empt new federal rules that take effect that will reduce the purchasing power of some first-time homebuyers. "It's crazy today," Matthew McKillen, a Toronto-based broker with Mortgage Architects, said. "The national loan origination software that we use to submit mortgages to our lender partners was down for a period of time due to the increased activity." more

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