Business Is Dropping Because Mortgages Are Now Harder to Get ...
Wednesday Aug 30th, 2017
According to "Financial Post" yesterday, August 29, 2017, “Volumes decreased largely as a result of the new regulations,” said CMHC, referring to new income tests that have forced consumers with less than a 20 per cent down payment to qualify based on the Bank of Canada five-year posted rate, now 4.84 per cent, as opposed to the lower rate on their contract.
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