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Canadian real estate and the new mortgage rules

from RE/MAX

Canadian real estate and the new mortgage rules RE/MAX Canadian real estate has been a tough nut to crack for some homebuyers, and those with less than 20 per cent as a down payment now face another challenge, with Canada Mortgage and Housing Corp.’s (CMHC) tighter qualification rules for borrowers of high-ratio mortgages. This move is in response to the global pandemic that has left many Canadians vulnerable. The changes, which include lower debt thresholds and higher credit ratings, are in effect as of July 1, 2020. READ MORE

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