In case you didn’t see the article yesterday on CBC

Seeking the advice of a mortgage professional is becoming more important with each mortgage change that hits the Canadian market. In the past few years we have seen the Government institute guidelines for Lenders that are aimed at slowing the Canadian housing market and reducing household debt. It is important that Consumers understand how each of these changes has affected mortgages. In the past few years we have seen amortizations shorten, qualifying rates increase and lending policies tighten. The Canadian housing market may now be showing some signs of slowing. The question is, have these changes had the desired effect on making Canadian debt more secure now? Are we able to withstand an increase in interest rates and/or a decrease in housing prices? Continue reading →