Finance Minister Chrystia Freeland clarified new downpayment rules for the larger insured mortgage cap on Tuesday, one of the proposals she claims will help improve affordability.

If someone went into a bank this week, the new rules would work out to an additional $10,000 to $15,000 in buying power.

The federal government formally launched consultations Friday to explore potential changes that would shift some of the financial risk tied to insured mortgages from the shoulders of taxpayers to lenders, such as the banks.