New Mortgage Regulations might shift the Real Estate Market

(October 23, 2017)





Last week, Canada’s banking regulator presented the new mortgage regulations, which will come into effect on January 1, 2018. The biggest change of all is the establishment of a new minimum qualifying rate (or financial stress test) for borrowers making a down payment of 20% or more of the home’s value. Previously, the stress test was only required to those borrowers with insured mortgages and ter... read more.