New Mortgage Qualifying Rules for Jan 2018
October 17th, 2017
Government adds new qualifying requirements for uninsured mortgages
Effective January 1, 2018, home buyers who don’t require mortgage insurance — those with a down payment of 20 per cent or more — must qualify for their mortgage at a higher rate
This new stress test won’t apply to people renewing their uninsured mortgage.
Canada’s Office of the Superintendent of Financial Insti ...