Robert McLister·Government RelatedMortgage Regulations·February 15, 2010Ottawa to Impose New Mortgage Guidelines Various media are reporting that the Finance Department will announce new mortgage qualification rules tomorrow (Tuesday, February 16). Among the possible rumoured changes: An “income test” to ensure people can make their variable-rate mortgage payments if rates rise (Canadian Press) Higher down payments for “certain borrowers” (Globe) Changes to investment property lending guidelines (CBC) Restrictions on home refinancing (CBC) Across-the-board down payment increases and a reduction in maximum amortization (from 35 to 30 years) are not part of tomorrow’s changes, according to CBC. None of the above have been confirmed as of yet. The government last made wide-ranging mortgage rule modifications in October 2008. (See: Goodbye to 100%/40-year Mortgages) We’ll have full coverage of any announcements tomorrow. Flaherty has a press conference set for 8:00am ET. More… Ottawa ready to tighten mortgage rules Flaherty to toughen mortgage rules Flaherty Said to Tighten Canadian Mortgage Rules Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.