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Real estate market news Oct 7th 2016

New Mortgage Rules Keep Canadians Safe From Housing Crash

Under the new mortgage rules, which take effect on Oct. 17, all new insured mortgages must qualify for the amount at a rate of 4.64 per cent, which is an average of the big banks' current posted mortgage rates. This is the case even if the rate offered by your lender is lower.

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Mortgage rules: What do the changes mean?

A major shift in mortgage rules announced by the federal government this week will drive up rates for consumers and cut competition in the lending sector, say some ni the industry.

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