Condo buyers struggle to adjust to borrowing rule changes
Recent changes to mortgage rules in Canada have left some condo buyers unable to afford their purchases, say professionals who are watching some clients struggle to hang on to their future homes. For years, buyers have been pre-approved for mortgages for units in Toronto buildings before shovels are even in the ground. But new federal rules on borrowing means new realities for people who thought they got the green light.
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Source: CBC News Toronto - October 14 2013