Sentences with phrase «new mortgage qualification rules»

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.

Not exact matches

Rising mortgage rates and tighter mortgage qualification rules have hit first - time homebuyers particularly hard, and activity was pulled - forward late last year in advance of the new OSFI rules.

Because of this reason, the government introduced some new mortgage rules in Canada and revised the qualification criteria further.

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.

The rules apply only to new mortgages, not renewals, but they are significant given that a majority of homeowners are thought to take out the types of fixed - rate mortgages that will be affected by the stricter qualification requirements.