Canada’s new mortgage rules are designed to make it harder for you to qualify for the mortgage you have right now and they are being introduced on January 1st, 2018. The new rules will affect at least 15% of Canadians. Whether you are looking to borrow more money against your home or simply want to move to a different lender for a better rate, you will be affected. Canadians will be forced to borrow less money as the income required to qualify for a mortgage will increase by about 20%. The Government of Canada is making it harder to shop for a better mortgage and more difficult to access the equity in your home, we believe that this will result in higher mortgages rates for some consumers.