July 17, 2018

Will The New Mortgage Rules Effect House Prices?

In my previous blog I discussed the changes made by CMHC that were coming into effect on March 18th, 2011 which are aimed at toughening up mortgage lending in an effort to curb further growth in record household debt levels. According to The National Post, as a ratio of money owed to disposable income we are nearing a startling 150% as of the third quarter of last year. ┬áThat surpasses the level of debt held by American households, whose appetite for borrowing helped stoke the financial crisis of a few years ago. ┬áThe Bank of Canada recently warned debt levels…

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