Posts tagged with: new rules

What do tighter mortgage rules mean for the average buyer?

Tighter Federal Mortgage Regulations On January 1st we watched as Canadian rang in a New Year – and as the Federal Government rolled out its 7th round of mortgage tightening rules since 2008 (wow!). “Effective January 1, new federal mortgage tightening rules require borrowers with a down payment of 20% or more to face a [&hellip

Read More
Priscilla & Company Logo

Tougher Rules for Insured Mortgages in Canada

This week Canada’s Finance Minister announced tougher qualifying rules for insured mortgages. As of October 17, 2016 insured buyers will qualify to borrow much less. Under the old rules, buyers could borrow more money because they could qualify for an insured mortgage using a full discounted rate for 5 years, provided they took the 5-year Fixed [&hellip

Read More