Last week, CMHC (Canada Mortgage and Housing Corporation) announced that effective July 1, 2020 it will be tightening the rules for high ratio mortgage qualification. Specifically, the following 3 changes will come into effect: The maximum allowed Gross Debt Servicing (GDS) and Total Debt Servicing (TDS) ratios will be reduced to 35% (from 39%) and 42% (from 44%), respectively. At… Read More »