Sources say the Finance Department is considering mortgage qualification rule changes, which could potentially be announced with its March 4 budget. (We’ve found no confirmation on this.)
The government is evaluating standardized qualifying rates to ensure variable-rate mortgagors can afford payments when rates rise. (Globe story)
Finance Minister, Jim Flaherty is reportedly not fond of broad-based rules to increase minimum down payments and decrease maximum amortization. Some say he may introduce more targeted rule changes instead.