The Mortgage Rules are Changing Tomorrow.

Friday December 29th, 2017 is the last day Canadians will be able to qualify for a mortgage at their contract rate. As of January 1st, 2018 all mortgagors will need to qualify at the Bank of Canada‚Äôs prescribed 5 year rate, or 2% higher than their contract rate, whichever is greater. This means about 20%… Continue reading The Mortgage Rules are Changing Tomorrow.