New Mortgage Rules Squeezing Homeowners

The new mortgage rules, called the B-20 guidelines, have locked borrowers into their mortgages and impeded housing mobility.

The government has implemented new rules in which has restricted some homeowners; they are no longer able to qualify for the mortgage they have.

Homeowners are unable to go to a different lender because those lenders have to qualify the homeowners for a new mortgage, and if they do not qualify, those homeowners are stuck with their existing lender.

The biggest challenge to many current mortgage holders is they are unable to shop around for a lower interest rate, even though they have perfect credit and they have never missed a payment. 

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