The following blog article: New Mortgage Rules in Canada was brought to you by The Aben Team
October 17th Deadline Is Looming...
Finance Minister Bill Morneau has announced big changes for mortgages and foreign buyers.
The Liberal government has announced big changes that will ensure Canadians aren’t taking on bigger mortgages than they can afford in an era of historically low interest rates. The changes are also meant to address concerns related to foreign buyers who buy and flip Canadian homes.
To learn more about these changes and how they might affect you, check out this great article from Dominion Lending Centres
These new rules come into place as of October 17th, 2016.