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Mortgage Broker News | 31 Aug 2016, 08:15 AM Agree 0
Risks of a housing correction have increased, according to a major bank which predicts the government may have to take action
  • Tomas | 31 Aug 2016, 10:04 AM Agree 0
    What about some attention on the real problem? Unsecured credit card loans and car loans are burying consumers.

    Everyone knows mortgages are good debt, they help to build equity; unlike credit cards and car loans.
  • Bev Gay | 31 Aug 2016, 10:47 AM Agree 0
    I will continue to send clients who dont qualify to the bank branches to get their mortgages approved. It just slays me every time it happens. So much for FISCO... just keep hammering the brokers!
  • Kris Kooblall | 31 Aug 2016, 11:57 AM Agree 0
    This makes more sense as housing is essentially an economic and social good.

    it's primary use and function in the economy is not a source of investment and profitability; its primary use is to provide homes for Canadian families in proximity to their work and their lives.

    In purchasing these homes, if the prices are artificially driven up by a number a factors including a non-correlation to income and affordability, it creates pressure and by direct extension presents a vulnerability in the economy.

    This is not making it up.

    This is real and the Bank of Canada Financial System Review in June 2016 captures the extent the vulnerability.
    All the levels of governments needs to act esp. our Federal Government.

    http://www.bankofcanada.ca/wp-content/uploads/2016/06/fsr-june2016.pdf
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