This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies. More information



Tougher Mortgage Rules to Cut Down Default Risks

Finance Minister Jim Flaherty announced tighter lending standards for mortgages, saying that while the housing market is “healthy” the moves are needed to “help prevent negative trends from developing.”

Here is the summary of the new rules:

  • All borrowers have to qualify for a mortgage with a 5 year fixed interest rate regardless of whether they’re seeking a loan with a lower interest rate and shorter term
  • Lowering the maximum amount borrowers can refinance up to 90% of the value of their home
  • Minimum 20% down payment for government-backed mortgage insurance on “speculative” investment properties

See full articles from The Globe and Mail and CTV.


>>Click here to contact me if you want to buy or sell a Toronto condo or loft


Casey Ragan

“Toronto’s Condo Authority”

Toronto Condos and Lofts

Like Me on Facebook

Follow Me on Twitter

Link to Me on LinkedIn


RE/MAX Hallmark Realty Ltd., Brokerage
723 Mount Pleasant Road
Toronto, ON
M4S 2N4



Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 2/17/2019 7:44:03 PM