New mortgage rules

For starters, let’s recall that when this measure was rolled out in October 2016 by Canada’s Minister of Finance, Bill Morneau, its primary purpose was to counter the abusive practices of certain foreign investors engaged in real estate speculation in Canada, and thus to control skyrocketing real estate prices in certain markets. The other goal of the new rules is to avoid a situation where future owners might be unable to make their mortgage payments if interest rates start to climb.

See "New mortgage rules"