How to Get Around Canada�s Harsh New Mortgage Rules

Hypothequesoulanges03 Jun, 2021Finance

The tighter borrowing rules imposed on July 1 have made it challenging for many Canadians to buy property. The Canadian Mortgage and Housing Corporation (CMHC) announced its policy of reducing lending limits, restricting down payments, and demanding higher credit scores for buyers' defaulting insurance from the agency. Insurance is vital for borrowers that can?t raise the 20% down payment.