Over the past decade, the rules governing mortgage lending in Canada have been repeatedly amended, each time to impose more stringent requirements on would-be mortgage borrowers.
Over the past decade, the rules governing mortgage lending in Canada have been repeatedly amended, each time to impose more stringent requirements on would-be mortgage borrowers.
Just over a decade ago, it was possible to buy a home in Canada with no down payment — financing 100% of the purchase price — and extending the repayment period for that borrowing over a 40-year period.