Vancouver Realty Online » federal http://vancouverrealtyonline.com Your number one source for Vancouver Real Estate from Kitsilano to Coal Harbour Fri, 03 Feb 2012 19:16:57 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 Vancouver Sun : “New mortgage rules make it tougher to qualify” http://vancouverrealtyonline.com/2010/02/vancouver-sun-new-mortgage-rules-make-it-tougher-to-qualify/ http://vancouverrealtyonline.com/2010/02/vancouver-sun-new-mortgage-rules-make-it-tougher-to-qualify/#comments Wed, 17 Feb 2010 18:52:12 +0000 admin http://vancouverrealtyonline.com/?p=790 Federal rules tightened slightly yesterday when a new set of mortgage restricting criteria were announced in Ottawa. Finance Minister Jim Flaherty was quick to assure the media, however; that the changes were not in response to a ‘housing bubble’, but a proactive step to assure the market stays responsible…

Vancouver Sun, February 16, 2010

Federal rules introduced Tuesday to tighten mortgage requirements will squeeze the purchasing power of the average Metro Vancouver buyer by $40,000 to $50,000, market observers say.

Finance Minister Jim Flaherty, amid warnings that too many Canadians are overextending themselves to take cheap, variable-rate mortgages, said buyers who want insured high-ratio mortgages will need to meet tougher requirements.

-Derrick Penner, Vancouver Sun

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