NEW RULES - First time home buyers
Posted on Jun 06, 2020
The Canadian Mortgage & Housing Corp. (CMHC) CEO, Siddall said the pandemic has exposed “long-standing vulnerabilities” in Canadian financial markets. The new CMHC rules will limit the debt exposure to first time home buyers by enforcing banks to bound to the standard 35/42 GDS (home mortgage, taxes and utilities, against the borrower’s pre-tax inc...