New Mortgage Rules Mean A New Reality For Home Buyers

Lower expectations, different markets?

The housing market coming to grips with the new mortgage rules introduced a few weeks ago, where those putting less than 20 per cent down will have to go through a financial stress test to ensure they’ll be able to make the payments. The changes may force a lot of first-time buyers to look at other markets or lower their expectations. It’s a complex matter, so we went to Bruce Joseph at Anthem Mortgage Group in Barrie for insight and advice…

photo: Alan Cleaver via Flickr