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New stress test rules on mortgages, coming in January, will hurt real estate transactions

It's just the latest indication that Ottawa is worried about Canadians' personal debt levels


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December 1, 2017 by canadiancontractor

Ottawa’s new stress test rules on home mortgages will disqualify some 10 per cent of buyers with down payments of 20 per cent or more, the Bank of Canada predicts.

Read the Globe and Mail story here.


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Canadian Contractor is the independent voice of residential renovators and home builders everywhere in Canada.


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1 Comment » for New stress test rules on mortgages, coming in January, will hurt real estate transactions
  1. Quest says:

    Its a shame, in our country these mortgage rules are apparently to give more protection to the bankers. It seems they haven’t got enough profits.

    The major 6 Canadian banks made 42 billion dollars profit last year.
    Why at least 20 billion of this wealth be used to help new home buyers?

    Nor a change these parasites want all, and their secure rules for never to even their business all ways larger profits. Apparently they dominate the political puppets, its amazing, what goes on, in our County economy.

    Banks in this Country have the monopoly warranty secure by the feds, no others can compete, small investment banks are only allowed 10% of the banks shares, that tells you all. 42 billion dollars divided by 35 million Canadians, you figure that out how much each Canadian in average been gauged?. You pay fees to have bank accounts and you pay to have their money, in a form of interest ,,,, meaning your tax dollars back to you in the warrant secure monopoly at 1% loan to them the bankers, in turn they loan to you what ever they feel like it, in all forms, visas, credit lines, master cards, mortgages, car loans, ect.

    Its you tax’s dollars back to you as a slave mafia style.

    Why the government cant loan money to you, at 1% for purposes of your life needs? Nor a change, these parasites have to skin you off, the working class, and use the political puppets to manipulate you with all form of lies and rules. More then half of our laws are pure garbage, its to control the mass population in fear, for the profit of a few.