Finance Minister Jim Flaherty outlined new rules aimed at reining in a hot housing market today and ensuring Canadians aren't taking on more debt than they can afford.
Flaherty outlined a series of changes to the rules that govern the Canada Mortgage and Housing Corporation, the crown corporation that effectively oversees the housing market by insuring the vast majority of Canadian mortgages.
The most important new change is that the maximum amortization period to 25 years, down from 30. The longer...
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