New minimum down payment requirements for purchases over $500,000
December 15th, 2015
The federal government is increasing the minimum down payment required to buy a home for more than $500,000 in an effort to cool the red-hot housing markets in Toronto and Vancouver, but some economists say the impact on housing activity will be minimal.
Finance Minister Bill Morneau made the announcement in Ottawa on Friday.
"We are looking at ways to ensure our market is stable and we wan ...

