Home values in Vancouver, Canada, are set to rise by just 2 % in 2017, 11 % lower than this year, as the foreign buyer tax and
mortgage tightening measures take hold.
Alternatively, if the Department of Finance were to continue
tightening mortgage credit, and to also withdraw some of the government's past
measures boosting the housing sector, it may not be necessary for the Bank of Canada to rein in a housing boom with higher interest rates.
New regulations included federal
measures to
tighten mortgage insurance rules, expand stress tests, and improve tax fairness around capital gains exemptions as well as changes to the Canada Mortgage and Housing Corporation's securitization programs; B.C.'s new 15 % land transfer tax on foreign nationals in Metro Vancouver and introduction of the Home Owner Mortgage and Equity program to provide interest - free loans to first - time buyers, along with Vancouver's introduction of a tax on vacant homes; and Ontario's doubling of the land - transfer tax rebate for first - time buyers, combined with a tax increase on homes over $ 2,
mortgage insurance rules, expand stress tests, and improve tax fairness around capital gains exemptions as well as changes to the Canada
Mortgage and Housing Corporation's securitization programs; B.C.'s new 15 % land transfer tax on foreign nationals in Metro Vancouver and introduction of the Home Owner Mortgage and Equity program to provide interest - free loans to first - time buyers, along with Vancouver's introduction of a tax on vacant homes; and Ontario's doubling of the land - transfer tax rebate for first - time buyers, combined with a tax increase on homes over $ 2,
Mortgage and Housing Corporation's securitization programs; B.C.'s new 15 % land transfer tax on foreign nationals in Metro Vancouver and introduction of the Home Owner
Mortgage and Equity program to provide interest - free loans to first - time buyers, along with Vancouver's introduction of a tax on vacant homes; and Ontario's doubling of the land - transfer tax rebate for first - time buyers, combined with a tax increase on homes over $ 2,
Mortgage and Equity program to provide interest - free loans to first - time buyers, along with Vancouver's introduction of a tax on vacant homes; and Ontario's doubling of the land - transfer tax rebate for first - time buyers, combined with a tax increase on homes over $ 2,000,000.
Finance Minister Morneau announced
measures to
tighten qualifications for fixed rate
mortgage loans and to restrict the insurability of these loans in early October.