NOW: Finance Minister Jim Flaherty has announced 3 changes to the Bank rules. Link to Government statement just minutes ago: http://www.fin.gc.ca/n10/10-011-eng.asp
First, buyers must be approved at 5yr fixed rate regardless of their product preference.
Secondly, refinancing at 90% not 95% going forward. And finally, investment/rental properties require 20% down to stem flippers and speculators.
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