Changing employment landscape will need lending shift

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While banks and mortgage lenders have been compelled to tighten lending requirements for new home loans to avoid charges of risky lending from the regulators, there has been a change in the employment landscape. With younger Canadians in particular facing weaker job security and many choosing self-employment or contract work they often find the availability of mortgages difficult. The Chronicle Herald notes that full-time employment has grown 3.5 per cent since 2008 while the increase in contract work over the same period is 24.9 per cent.

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