We usually see some form of tightening every year, since the US mortgage market crashed. This year, CMHC {Canadian Mortgage Housing Corporation} has promised to be more conservative with items like:
use of variable income (bonuses, tips, etc)
guarantor income
heating costs
secured and unsecured lines of credit
credit cards
We have two other mortgage insurers in Canada: Genworth and Canada Guaranty. They have yet to follow CMHC's new guidelines. This gives a few options to consumers who may not qualify according to CMHC's new standards.
Not all banks or lenders offer all 3 insurers to their customers. So a customer that is declined by CMHC at one bank may be approved at a different bank with Canada Guaranty or with Genworth. This is where an experienced mortgage associate can help.
