Mortgage Rule Changes - Effective Jan 1, 2018
There are some important changes in the Canadian mortgage rules taking place January 1, 2018. I sat down with Lisa Oleksiuk, with Dominion Lending Centres Island Living, to discuss what these changes are and how they will affect home buyers. Lisa pointed out that the government will be introducing a stress test for conventional (non insured) mortgages. If you are thinking about buying a home in the next few months, it's a good idea to book an appointment with a mortgage broker to find out how this may affect the amount you will be able to qualify for.