Harper hints at tighter mortgage rules in 2011

Harper hints at tighter mortgage rules in 2011

Prime Minister Stephen Harper hinted the government may adjust mortgage rules in 2011 to help Canadians avoid going deeper into debt.
 
“We’ve tightened mortgage rules before,” Harper told CTV during a year-end interview that aired on Christmas Day. “If we have to do that again, we will.”

Harper also committed to eliminating the federal deficit but will not use “slash and burn” cuts, particularly in the critical areas of health and education.

34 Comments
  • gar 2010-12-30 10:16:42 AM
    The sooner Harper tightens the mortgage rules the better.the greed of the financial institutions will lead us down the path of the U.S. foreclosure after foreclosure.Then it will be our turn to have to bail these greedy bloody banks out and the only losers are the taxpayers.Do It Now
    Post a reply
  • Elfie Hayes 2010-12-30 12:21:58 PM
    We need to stop asking the government to regulate everything we do. I disagree with the above comment. If you read the news you'll know that Canadian conservatism is what saved our butts in this recession and for my money I don't want a weak Prime Minister putting more laws in place that restrict how we can help Canadians obtain home-ownership. With a foreclosure rate at les than 1/2 of a percent we are not even beginning to compare to the Us. CMP just reported that 80 % of Home Owners in Canada have more than 80% equity and 35% of Home Owners either increased their monthly payments or made lump sum payments in the past year. I hardly think that should make us run to the Government for help! Also Read page 12 of Dec CMP by Scotia Economics. Canadians can carry a home for the price of rent in most cities in the country because of the low interest rates. Canadians are also saving more than they were prior to the recession. Being informed about the marketplace will indicate that your comment is a bit hysterical. The Sky is not falling!
    Post a reply
  • Rita 2010-12-31 5:06:29 AM
    If I want to live in a communist country I would move to Cuba. We need to stop giving our government the power to rule on our every move..............
    Post a reply