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New stats threaten to scuttle mortgage rule changes

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Mortgage Broker News | 16 Mar 2012, 10:00 AM Agree 0
Better-paid consumers may have taken the wind out of the government’s sails as it considers embarking on another round of mortgage rule changes.
  • Elfie Hayes | 17 Mar 2012, 01:00 PM Agree 0
    Next time there is an election ask yourself if you will once again vote for a government that lets the banks crank out credit to overburdened consumers like candy at a birthday party wile making home ownership harder to achieve year after year.

    During the recent recession the driving force behind our financial stability was our housing market. Strong sales, cheap rates, default rates of under 1/2 of one percent. Also during the recession many who lost their salaried or hourly jobs, created their own employment by opening a business thus keeping themselves off the unemployment roles.

    This is the thanks Mr. Flahrety is giving us!! Annual tightening of mortgage rules, higher costs for the self employed borrowers and now more talk of reducing Amortizations again. I guess he won't stop till he kills the housing industry and no one can buy a home, but then he lives in quite the little jewel in Whitby so why worry about the rest of Canadians.

    It's obvious Jimmy is a Bank's best friend, paving the road to higher profits by letting them throw consumer debt at each and every person who walks in the door without having to take an ounce of blame for the high levels of debt Canadians have.

    It doesn't take an Einstein to see what's troubling our economy and it's not now nor has it ever been having a home with a mortgage.

    I didn't vote for Jim and I never will. The sad thing is during the next election which of the three stooges will we vote for???
  • Julia Krause | 20 Mar 2012, 05:04 AM Agree 0
    Elfie, your comments are 100% exactly bang-on RIGHT and well written too!! YAY!!
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