Industry not surprised by Flaherty's mortgage rule changes
Federal Finance Minister Jim Flaherty announced three new rule changes connected to government-backed insured mortgages Tuesday morning, saying the government is "taking proactive, prudent and cautious steps" to prevent a housing bubble.
Fraser Institute endorses Australian model of mortgage insurance
The CMHC should be privatized to minimize taxpayer risk if a housing crisis occurs, conservative think-tank The Fraser Institute argued in a report released earlier this week.
Genworth already using potential new mortgage rule
The federal government is considering a new mortgage rule where clients who take out variable rate mortgages must be qualified based on a higher interest rate, according to the Globe and Mail - a practice Genworth Financial already has in place.
Flaherty has no plans to tighten mortgage rules: Globe and Mail
Following a report in Saturday''s Globe and Mail that banking officials have called for tighter mortgage rules to stave off a housing collapse, Finance Minister Jim Flaherty told reporters he does not see signs of a housing bubble in Canada.
U.S.-based firm pays borrowers to pay their mortgage
Lately some borrowers in the U.S. have been considering walking away from their mortgage, even if they have a means to pay it.
Competition bureau aims to make property listings cheaper
The Competition Bureau says today it will try to make it cheaper for sellers to list their homes on the Multiple Listings Service (MLS).
Mortgage market strong, housing bubble nonexistent: Carney
Bank of Canada governor Mark Carney said Canada is not experiencing a housing bubble and he doesn''t see the need for structural changes to the country's mortgage market, according to a report in Reuters.
Former Wells Fargo BDO creates mortgage finding tool
Tony Roberts, a former Wells Fargo BDO, launched a new product search engine tool for brokers in January called Adunatio.
Former Home Trust president to head up new mortgage lending operation
Financial services firm Grey Horse announced it has hired Nick Kyprianou to lead a new alternative residential mortgage lending operation through its subsidiary, Equity Transfer and Trust Company (ETT).
Islamic financing in Canada legal, but still poses hurdles
Shariah-compliant mortgages and other types of Islamic financing would be legal in Canada, but the CMHC has no plans to insure them or change any legislation or administrative practices to accommodate them, concluded a report.