Will Flaherty Actually Change the Rules Again?
Just for Halloween, we decided to talk about something very scaaarry – the possibility of Finance Minister Jim Flaherty changing the housing and mortgage rules once again. People still haven’t stopped talking about last July, when he changed the mortgage rules for the fourth time in just as many years. One thing was different about those…
Read moreWhy all the Real Estate Sales in the Past Months?
We have all heard that by this time, we were supposed to be suffering from a massive collapse of the real estate market. But for the past several months, the real estate market has been seeing quite a boom. Granted, it’s not as large as we saw during the years of 2010 and 2012; but…
Read moreA Different Kind of Default
We thought we had heard the last of the problems caused by the mortgage rules that were instated last year. But for some condo buyers, the problems are just starting. Those problems come in the form of pre-approvals, some of which were obtained as long ago as 2009, and how borrowers can no longer afford…
Read moreNew CMHC Rules will Result in Higher Mortgage Rates
It’s widely known that mortgages backed by CMHC are largely default-proof on the part of the lender, because they’re guaranteed by the Crown organization. It’s also known that CMHC has been nearing its limit for mortgage insurance, and that Finance Minister Jim Flaherty has no interest in increasing that limit at all. Now, the pressure…
Read moreCMHC Clears Things Up
You can’t go anywhere these days without hearing about the mortgage rules imposed across the nation last year. But with those rules came some debt ratio standards that weren’t exactly clear. Or not as clear as CMHC would have liked, anyway. To that end they’ve now defined those standards even more, and that could make…
Read moreResearch Firm Predicts 25% Drop in Canadian Housing Prices
A report by Capital Economics, suggests that house prices in Canada could fall by 25% over the next three years. The report points to some specific concerns for their worrying prediction: -Housing prices relative to disposable income are 25% overvalued -Unoccupied housing units are at historical highs -The homeownership rate has increased sharply over the…
Read moreNew Mortgage Rules Positive for Canadian Banks: Moody’s Investor Service
Moody’s Investor Service says that the new Canadian mortgage rules are positive for banks and will contribute to the stability of Canada’s financial system.
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