Jim Flaherty news

  • Rule changes too late?

    Tightening mortgage rules aimed at cooling Canada’s housing market “may have come too late” to avoid a hard landing.

  • Rule changes spur brokers & clients into action

    Whether they like the rule changes or not, brokers are facing what may be the busiest two weeks of the entire rest of the year, especially those dealing with first-time buyers in danger of being shut out of pricey markets

  • Govt to lower amortization, LTV on refis ... again

    The reprieve Canadian brokers thought they had is no longer, with the government confirming it will now lower the maximum amortization on an insured mortgage to 25 years and cap refinances at 80 per cent of a home's value.

  • Broker: Don't rule out more mortgage rule changes

    A leading B.C. broker is suggesting it would fall to the government to again tighten mortgage rules in order to limit the number of at-risk Canadians taking on new housing debt, arguing the Central Bank’s hands are effectively tied.

  • Brokers welcome freeze on mortgage rule changes

    Finance Minister Jim Flaherty is offering brokers a respite from any new mortgage rule changes like those introduced in March, suggesting he’s happy with slowing demand stemming from those spring amendments.

  • Broker: ‘Habitual refinancers’ facing forced listings

    There's strong indication new mortgage rules have begun to cull the number of “habitual refinancers” said one 20-year veteran of the broker industry, suggesting a spike in the number of forced listings should soon follow.

  • Broker: Clients now suffering collateral damage from collateral mortgages

    Broker fears that growth in collateral mortgages could darken their business horizons have come true, said one broker, pointing to his own impaired capacity to service clients.

  • 2011: The Road Ahead

    Consumer awareness and confidence in brokers, broker-lender relationships and the threat from government of more mortgage rules are some of the issues John Tenpenny heard about when talking with prominent industry members

  • DLC president bends the ear of Finance Minister

    Dominion Lending Centres president Gary Mauris was one of the participants Wednesday at a pre-budget consultation held in Regina by Finance Minister Jim Flaherty. The following is a summary of the day, submitted by Mauris.

  • Ottawa tightens mortgage rules

    Finance Minister Jim Flaherty announced a second tightening of mortgage rules in the past 12 months as Canadian household debt became a growing concern at the end of 2010 and historically low interest rates continued to persist.