Sentences with phrase «canadian mortgage qualification rules»

Under current Canadian mortgage qualification rules, home buyers can only get a mortgage if their debt - ratios show that they can make payments based on the Bank of Canada's qualifying rate.

Not exact matches

Then the Canadian federal government tightened up mortgage qualification rules, making sure that every borrower is stress tested based on posted rates (which currently hover at 4.64 %).

The homebuying budgets of Canadian millennials shrank by 16 per cent or just over $ 40,000 following the introduction of tougher mortgage qualification rules in January, according to a new study.

In a sign of the ongoing role government intervention is playing in the market, one in three Canadian homebuyers said they had decided to forgo a home purchase in light of the new mortgage qualification rules that came into effect January 1, according to a new Re / Max survey conducted by Leger.