If you’re buying a house for more than $500,000 you’ll need to have more money saved for a down payment. Outside of Toronto and Vancouver, most first-time home buyers can purchase a nice home for less than this. However, lenders are likely to pass future costs for mortgages down to consumers, find out more from this video and check out these links for more information….
http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2015/2015-12-11-0900.cfm
http://www.osfi-bsif.gc.ca/Eng/fi-if/in-ai/Pages/cptreqmtg.aspx