While banks and mortgage lenders have been compelled to tighten lending requirements for new home loans to avoid charges of risky lending from the regulators, there has been a change in the employment landscape.
While banks and mortgage lenders have been compelled to tighten lending requirements for new home loans to avoid charges of risky lending from the regulators, there has been a change in the employment landscape. With younger Canadians in particular facing weaker job security and many choosing self-employment or contract work they often find the availability of mortgages difficult. The Chronicle Herald notes that full-time employment has grown 3.5 per cent since 2008 while the increase in contract work over the same period is 24.9 per cent.
