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Mortgage Broker News | 02 Jul 2015, 08:47 AM Agree 0
Have the mortgage rule changes been all for naught? One broker believes so, arguing they have actually caused a heating effect.
  • Jerry Quigley | 02 Jul 2015, 09:38 AM Agree 0
    friggin nonsense!
  • Ron Butler | 02 Jul 2015, 10:33 AM Agree 0
    Okay, tighter mortgage regs = higher property prices. Not in my universe.
  • Russ Cameron Cameron Mortgages | 02 Jul 2015, 12:45 PM Agree 0
    Some good comments Jim, but what the Gov't wanted to do is reduce personal debt as it was getting to high..so they restrict families from making the best investment they can make in buying real estate, so they can pay $1500 a month rent. If families can buy they have the benefit to gain equity over the years instead of landlords benefiting. At the same time we didn't do anything about the high 20% rates on credit cards.. Eg $250m at 3% is the similiar cost as $40m at 20% and you got no chance of ever getting ahead..also by tightening up mortgages we brokers are going to private investors or higher rate lenders..what a mess
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