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Thursday, January 9th, 2020

Jim Flaherty move shocks brokers – Ask a Vancouver Mortgage Broker

Finance Minister Jim Flaherty has stepped down. “Yesterday, I informed the prime minister that I am resigning from cabinet,” Flaherty said in a statement. “This was a decision I made with my family earlier this year, as I will be returning to the private sector.” Flaherty – who has been unpopular among the mortgage broker community – […]

Flaherty threatens action – Consult with a Vancouver Mortgage Broker

Finance Minister Jim Flaherty says he will step in to intervene once more if the housing market appears to move toward a bubble. “I’m comfortable with where we are, but we have to watch and, if we see anything moving toward a bubble, we can intervene,” Flaherty said in an interview with BNN Television this week. “It’s […]

No more tightening needed after measures averted housing bubble: Flaherty – Consult with a Vancouver Mortgage Broker

Finance Minister Jim Flaherty said he isn’t planning new measures to restrain the country’s housing market because his past four rounds of action have already worked to avoid a bubble. ‘A tale of two markets’: Condominium prices falling while low-rise homes continue to soar A housing crash based on the type of home you have? […]

Flaherty dismisses fears over housing slowdown – Consult with a Vancouver Mortgage Broker

Decreasing demand, construction a ‘healthy’ development, finance minister says The Canadian Press  Finance Minister Jim Flaherty is dismissing fears about Canada’s housing market, saying the current slowdown is welcome news and that there is no need for further government intervention. While some observers are expressing fears that a steep correction is underway that will bring […]

Flaherty’s decision to intervene in mortgage war raises questions

Flaherty’s decision to intervene in mortgage war raises question Finance Minister Jim Flaherty has pressed Manulife Bank into reversing a mortgage-rate cut, underscoring the government’s determination to prevent lenders from stoking the housing market at a time of soaring consumer debt. Mr. Flaherty instructed one of his officials to call Manulife on Monday night and […]

Canadians Deserve More Answers

Boris Bozic, CAAMP Chair and President/CEO of Merix Financial wrotethis about the latest mortgage rule changes: “…Stakeholders have every right to call out decision makers if there’s concerns that [mortgage rule changes] may have unintended consequences. We also have every right to ask decision makers to articulate, in a clear and cogent fashion, the rationale behind the decisions they made.” […]

CMHC could be pulled out of mortgage insurance business, Flaherty says

Finance Minister Jim Flaherty would consider takingCanada Mortgage Housing Corp. out of the mortgage default insurance business he told the National Post’s editorial board. ‘I don’t think it’s essential that a government financial institutionprovide mortgage insurance in Canada’ “Over time, I don’t think it’s essential that a government financial institution provide mortgage insurance in Canada. I think what’s […]

Why smaller down payments can lead to better mortgage rates

It doesn’t make much sense, but a skimpy down payment on a home might actually get you a better mortgage rate in today’s market. Blame the government subsidy known as mortgage default insurance, which ultimately makes it less risky to lend money to someone who has only 5% down compared to someone with 20%. Consumers […]

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