Business Is Dropping Because Mortgages Are Now Harder to Get ...

According to "Financial Post" today, “Volumes decreased largely as a result of the new regulations,” said CMHC, referring to new income tests that have forced consumers with less than a 20 per cent down payment to qualify based on the Bank of Canada five-year posted rate, now 4.84 per cent, as opposed to the lower rate on their contract.

To Read the Full Article, please click below:
New Mortgage Rules Are Shrinking the Size of the Insured Housing Market