Earlier this week Finance Minister Jim Flaherty announced changes to the Canadian Mortgage Rules.  The changes are subtle and have been well-received by economists and the public for calming down the market without de-railing it.  The new policies are:
-Applicants for CMHC backed mortgages must pass a credit test
-Applicants must qualify on the 5-year rate (up from the 3-year)
-You may only refinance your home to 90% loan to value (scaled back from 95%)
-Minimum 20% down on rental properties
 
 
Global economic outlook improves modestly,central bank says, but benchmark interest rate to remain at record low 0.25 per cent