How Buying or Selling a Home in Canada Has Been Impacted by New Federal Mortgage Rules
What You Need to Know About the New Federal Mortgage Rules
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The Canadian government recently announced important changes to lending rules which impact buying and selling Real Estate in Canada. Aimed at ensuring Canadians aren’t taking on bigger mortgages than they can afford, all mortgage applicants, including those with a greater than twenty per cent down payment, will now be screened by more rigid standards or ‘stress’ tests to determine if, and for how much, they qualify.
Much has changed in the past year as a result of the new mortgage rules. Upward pressure on historically low interest rates will result from several aspects of the
new legislation which also closes tax loopholes for foreign buyers engaged in flipping homes.
Order this FREE Special Report NOW that outlines what the key changes are and how they can affect your purchase and/or sale of a home in 2017.