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How The New Canadian Mortgage Rules Affect Buying Power

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If you’re looking to buy a new home in 2018 you’ll want to make sure you’re familiar with the new mortgage rules. A new minimum qualifying rate has been set, also known as the “stress test” which impacts uninsured mortgages ( mortgage buyers with a down payment that is 20% of more of their home price ).

Potential home buyers wondering how their buying power has been affected by these changes can reference this mortgage infographic to help get a sense of what what their affordability will be based on income

If you're looking to buy a new home in 2018 you'll want to make sure you're familiar with the new mortgage rules. A new minimum qualifying rate has been set, also known as the "stress test" which impacts uninsured mortgages ( mortgage buyers with a down payment that is 20% of more of their home price ). Potential home buyers wondering how their buying power has been affected by these changes can reference this mortgage infographic to help get a sense of what what their affordability will be based on income

Score from the experts at Killer Infographics

Visual Communication - 30%
Design - 30%
Content/Script - 30%
Usability - 30%

30%

Final Grade

This infographic outlines how new Canadian mortgage rules will affect prospective homeowners' buying power. However, the infographic itself offers very little context regarding what is being discussed. What has caused the decrease in buying power? A viewer would have to read additional text posted alongside the infographic to understand the content of the infographic, greatly reducing its usability and shareability as a standalone asset. And when it comes to visual communication, a reader should be able to tell what the basic topic of an infographic is without reading a word. In this case, we have no idea that the topic relates to houses or mortgages until we start reading — and in fact, the word "mortgage" appears nowhere in the infographic. Overall, we'd have to give this infographic an F.

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