Vera K is a doctor making a good income, having bought her current home three years ago. She decided to refinance her house to pay off my tuition debts, but that was after the new mortgage regulations took effect last October. Vera sent an application to her lender and got a surprising reply: under the new mortgage regulations she’s not even qualified for her current mortgage payment. Vera had to arrange a new mortgage with a different lender. Her new interest rate is 3.32 per cent, when it was 2.2 per cent prior.