Mortgage lenders are not to blame for household debt

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Whenever mortgage rates are cut there are negative reports that claim that lower rates leads and irresponsible lending are creating a household debt ‘time bomb’. However, writing in the Globe and Mail Rob Carrick defends the lower rates offered by mortgage lenders and banks saying that consumers should welcome they battling it out over lower rates. While critical of the loose lending policies of some he says that no one criticizes retailers when they cut their prices and home loan providers should be treated in the same way. Further defending the industry, this time on interest rates, Mr Carrick says that while lower interest rates have fuelled the housing market and helped increase prices, that is not the fault of mortgage lenders. 
 
  • Jesse D on 2015-04-14 8:17:13 AM

    Credit Card companies, low life companies like Mogo and Payday loans, as well as predatory private lenders like New Haven. Perhaps the government can get a lid on utility companies and insurance companies who are constantly increasing costs. These are to blame along with the fact companies are not paying people what they are worth. Salaries are down, a lot of unrecorded unemployment but cost of living going way up. Government needs to take their eyes off proper mortgage lending and actually pay attention of where the real problems are.

  • Jesse D on 2015-04-14 8:17:24 AM

    Credit Card companies, low life companies like Mogo and Payday loans, as well as predatory private lenders like New Haven. Perhaps the government can get a lid on utility companies and insurance companies who are constantly increasing costs. These are to blame along with the fact companies are not paying people what they are worth. Salaries are down, a lot of unrecorded unemployment but cost of living going way up. Government needs to take their eyes off proper mortgage lending and actually pay attention of where the real problems are.

  • Jesse D on 2015-04-14 8:17:26 AM

    Credit Card companies, low life companies like Mogo and Payday loans, as well as predatory private lenders like New Haven. Perhaps the government can get a lid on utility companies and insurance companies who are constantly increasing costs. These are to blame along with the fact companies are not paying people what they are worth. Salaries are down, a lot of unrecorded unemployment but cost of living going way up. Government needs to take their eyes off proper mortgage lending and actually pay attention of where the real problems are.

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