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Rule changes make mortgages a moving target
Ottawa`s ongoing tweaks to the rules for buying a home during the last two years have made it harder for many Canadians to get a mortgage.
Ottawa has repeatedly tightened the rules that determine who is eligible for an insured mortgage, fearing that low interest rates, coupled with a long period of climbing property values, have caused buyers to take on more debt than they should. Policy makers worry that some of those debtors won`t be able to afford their mortgage payments if interest rates rise substantially.
Read the full article here.
Ottawa`s ongoing tweaks to the rules for buying a home during the last two years have made it harder for many Canadians to get a mortgage.
Ottawa has repeatedly tightened the rules that determine who is eligible for an insured mortgage, fearing that low interest rates, coupled with a long period of climbing property values, have caused buyers to take on more debt than they should. Policy makers worry that some of those debtors won`t be able to afford their mortgage payments if interest rates rise substantially.
Read the full article here.