With three new mortgage rules coming into force April 19th, as announced on February 16th by federal Finance Minister Jim Flaherty, it is important to know how this will affect your bid to obtain a mortgage moving forward. The good news is that most of you looking for a mortgage will not be significantly impacted by the latest changes. The intention of the rules is to curb speculation housing and encourage homeowners to use their homes as a savings tool, rather than borrowing home equity to pay down loans and credit card debt.