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- No New Rules Coming. Well, Maybe One January 14, 2017Finance Minister Bill Morneau is suggesting that no new mortgage rules are on the drawing board. After meeting with economists on Friday, he told reporters: “We, as you know, were quite careful in considering the…situation around the housing markets across the country as we considered measures to ensure that, you know, the people’s biggest investment […]
- First-Timers Delaying Homebuying January 9, 2017Nearly half of Ontario’s first-time buyers say they’ll delay their home purchase as a result of the federal government’s new mortgage rules introduced in October. As part of the government’s new stress-testing measures, buyers with less than a 20% down payment must now prove they can afford a payment at the BoC benchmark rate (currently 4.64%). […]
- Regulators Deserve Praise…and Reproach January 8, 2017CMT has a long record of critiquing government rule changes in the mortgage business. It’s a check and balance on a bureaucratic system that sometimes “forgets” to consult stakeholders and discounts the consumer repercussions of its policies. But it would be a mistake to misinterpret this as advocating for the status quo. On the contrary, Canada’s mortgage regulators […]