Real Estate News – Ontario

First-time buyers delaying home ownership on account of new mortgage rules, OREA research shows

Eight-in-ten (79%) first-time home buyers in Ontario say that the federal government’s new, more stringent mortgage rules will throw a wrench into their home buying plans, according to the Ontario Home Ownership Index a semi-annual consumer study commissioned by the Ontario Real Estate Association (OREA). Mortgage stress testing will delay home ownership for nearly half of Ontario’s first-time buyers, the survey conducted by Ipsos Reid shows.

Please note: The content above and the title are courtesy of the OREA website.

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