Blog by Tracy Keenan-Whyte

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What do the New Mortgage Rules in effect after October 17th Mean to You?

Chatting with Jodie Kristian, Mortgage Broker with Modern Mortgage Group/Dominion Lending, she's distilled it down to this: "The new rules adjust the amount one qualifies for by approximately $100,000. If you qualify for $500,000, after Oct. 17 its approx. $400,000." In other words you have 18% less buying power. A couple of links to check out for more information:

The Globe & Mail - Four Major Changes to Canada's Housing Rules

The Globe & Mail - How the New Housing Rules Affect Your Purchasing Power