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New rules around insured mortgages

Since late last year, federal government has tweaked the rules around insured mortgages several times:

raising minimum down-payment requirements on homes worth between $500,000 and $1-million,
imposing a tougher income "stress test" on borrowers,
limiting how lenders use government-backed portfolio insurance and
making it more expensive for financial institutions to securitize mortgages through CMHC.

The moves are part of an attempt by the government to help slow skyrocketing home prices in some markets and insulate taxpayers from the risks of rising household debt.

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