Saskatoon Mortgage Broker shares article on mortgage policies

Oliver says no major shift in mortgage policy for now

Article by Jeffrey Hodgson, Globe and Mail, September 21, 2014

“Canada’s Conservative government has no immediate plans for a shift in mortgage rules, its finance minister said on Sunday, amid speculation policymakers want banks to take more of the risk in mortgage lending.

The federal government provides mortgage insurance through Canada Mortgage and Housing Corp (CMHC) to qualified home buyers who make a down payment of less than 20 percent. Canadian banks rely on this government-backed insurance to reduce the risk on their balance sheets.”

To read the full article, please click here.

No comments yet.

Add your Comment