This morning, The Bank of Canada announced new mortgage rules (which will take effect July 9, 2012) in an effort to control the climbing household debt levels and cool what many believe is an overheated real estate market. The Bank of Canada reportedly plans to keep interest rates low for the foreseeable future and the minimum down payment amount remains at 5%.
How Do These New Rules Impact You?
How Will These Changes Impact The Real Estate Market As A Whole?
What Should You Do?