Anna Seifried is in the market for her family’s first home. (Pictured Above) Real estate agents say the new regulations could have a dampening effect on the housing market in Ottawa, especially when it comes to starter homes. “I think the people this will affect the most are people who may have a little bit more debt, whether student loans or otherwise … because their margins will be narrowed significantly when they are being pre-approved.
” Seifried said she still hopes to find her dream home, within the lower qualifying limit. “We remain optimistic. We are doing our due diligence and seeing lots of houses and we know that we will find the right house eventually.”Anyone who already has a mortgage, or who has already applied for mortgage insurance, is exempt from the new rules, which will formally kick in on Oct. 17. Some Ottawa real estate agents have started sending notices to clients advising them to beat the deadline and buy now.