Beginning next week, many Canadians hoping to buy an abode will need to put more cash down before they can call it home. The extra cost might keep some would-be homeowners from mortgages they can't really afford, but it's unlikely to leave any lasting impressions on the country's most "overheated" real estate markets.

The federal government said in December that the Canadian Mortgage and Housing Corporation will require a 10 per cent down payment on any portion of a mortgage it insures above $500,000 and up to $999,000. That's double the five per cent down the Crown corporation currently asks to insure mortgages worth more than 80 per cent of a home's value.

"We want to make sure we create an environment that protects the people buying homes so they have sufficient equity in their home," said Finance Bill Morneau at the time, also noting that "elevated" house prices were the driving force behind the move.