Canada Tightens Mortgage Eligibility, Closes Loophole

  • Federal finance minister acts again in bid to cool hot markets
  • Low-ratio mortgages will face stricter eligibility rules

Housing Policies to Pave Way for a BoC Cut

Canadian Finance Minister Bill Morneau unveiled new measures that tighten access to mortgage insurance for commercial banks and closes a tax loophole on homes purchased by foreigners, amid warnings of a potential housing crash.

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