Here’s How Tightening Regulations Have Made It More Difficult for Canadians to Borrow Money When Buying Real Estate.
Back in the good ol’ days before the world financial crisis of 2008, it was relatively easy for Canadians to get mortgages. Since then, successive governments have imposed increasingly strict rules on borrowing money to buy real estate. With a newly elected Liberal minority government promising to make housing more affordable, we might hope some of those rules will be relaxed—or at least that buyers will benefit from new incentives. For the moment, however, Canadian mortgage regulations remain quite strict. This blog post looks back at the recent history of mortgages in Canada, as well as the current borrowing climate. Continue reading