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New mortgage criteria coming into effect

 

New mortgage rules come into effect on October 17, so if you have been sitting on the fence and your around your limit for qualifying for a mortgage now, you may want to get off the fence pretty quick!

 

These measures are being implemented by the governement in an effort to protect buyers, particularly in the over heated markets of Vancouver and Toronto, but bear in mind that these are national measures which could cool the markets elsewhere.

 

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