Could getting a mortgage be made tougher?

by Steve Randall17 Jul 2015
It could get tougher for homebuyers to get a mortgage if the federal government opts to curb the housing market.

The Financial Post reports that Ottawa is undertaking consultations to ascertain whether it should impose new rules to take the heat out of the market. Options being considered include raising the minimum downpayment and imposing specific conditions for high-value housing.

The Department of Finance denies considering changes to downpayment requirements. The article suggests that tougher mortgage lending restrictions, such as a 20-year maximum amortization or tweaks to mortgage insurance, are also being considered. 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?