In the numbers: New mortgage rules

As you may have heard, the Federal government recently introduced three 'precautionary' new mortgage rules to help reign in some of Canada's hotter housing markets and better protect homeowners from artificially low interest rates.

The government's three changes include:

- Requiring lenders to qualify homeowners on the current five-year fixed rate, regardless of the type of mortgage they choose;

- Limiting the amount of equity people can withdraw when refinancing their homes (a maximum 90% of the value of their home, down from 95%);

- Requiring real estate investors to put down a minimum 20% down payment on non-owner occupied properties.

So what do these new rules mean to you? Below are a few numbers to consider:

$9,200 – that's the amount of additional annual income you'll need to qualify for a $337,000 home (the national average price) with 5% down, under the new rules.

33% - The percentage of homeowners who will actually be affected by the government's refinancing rules. Most people just aren't comfortable withdrawing 90% of their home's value.

15% - The amount of new mortgage originations that will likely be impacted by the government's down payment increase for investment properties. Judging by CAAMP's data – which estimates that approximately 240,000 mortgages were originated on new home purchases in 2009 – that could mean approximately 36,000 real estate investors will be affected in 2010.