The Saskatoon Mortgage Broker shares article on new downpayment rules from the Liberal Government

The Liberal government is overhauling the rules governing the mortgage industry in a bid to target what it said were “pockets of risk” in the housing market.

The three-pronged approach includes doubling the minimum down payment for some home buyers, increasing the fees charged to lenders that securitize government-backed mortgages, and proposed changes that could require lenders to hold more capital against some insured loans in order to curb mortgage fraud and to slow rising levels of household debt.

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