Gilkinson Financial

The Mortgage Centre

Lic. #11952

New mortgage rules will ‚?~reduce the risk‚?T a housing crash poses to Canada‚?Ts economy

October 6, 2016

OTTAWA - Canada's finance minister believes the housing market remains hot, but healthy. It just needs a little more regulatory care to keep it that way and not harm the economy in the process.

For now, Bill Morneau's prescription calls for some gentle adjusting of existing rules - like closing a tax loophole on non-resident real estate investors - along with new measures, such as a mortgage-rate "stress test" to ensure hopeful buyers can afford to get into the market in the first place and meet their payments when lending levels begin to rise.

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