The Bank of Montreal did a poll recently and nearly half of Canadians didn’t know the new mortgage rules that went into effect this month. The government is trying to avoid a real estate crash like they had in the U.S. by putting in new regulations to cool down our overheated housing market.
It seems to be working as the Globe & Mail is reporting the average residential sale price in Vancouver declined 1.3% between May and June.
Click on the link below to take the quiz. Answers discussed tomorrow.