Record House Prices in Victoria - New Mortgage Rules Come into Effect - Category: Home Buying
Posted by Jack Barker
On July 1st the Canada Mortgage and Housing Corporation (CMHC) new mortgage rules came into effect. These changes are meant to reduce the risk of taxpayers footing the bill for bad loans, as well as protecting homebuyers who would be likely to take on too much risk in an economic downturn.
These rules include: