Ottawa eyes tougher mortgage rules

Financial Post

The federal government may be ready to take direct aim at Canada's red-hot housing market, and is actively consulting on a move to increase the minimum down payment required to buy a house, the Financial Post has learned.  Sources say that Ottawa has been studying proposals to increase the minimum down payment from five per cent and said the government is looking at adding restrictions for high-priced housing, which would hit hardest in Canada's two most expensive cities - Toronto and Vancouver.

Full articlehttp://tinyurl.com/q226l9v

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Michael James

Michael James

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