Jim Flaherty news

  • 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 poll to reveal industry sentiment

    Has the government gone too far with mortgage rule changes? Are brokers satisfied with their brokerage? What are brokers doing to increase revenue?

  • Brokers give gov't failing grade on mortgage policies: Poll

    Despite the fact that the recent federal budget left mortgage regulations untouched, are brokers satisfied with how the government has handled the mortgage market?

  • Flaherty throws CMHC future in doubt

    Finance Minister Jim Flaherty is hinting – like none of his predecessors before him – that the government could and, perhaps, should get out of the mortgage insurance business.

  • Brokers brace for new CMHC boss

    Getting CMHC to approve deals may soon be tougher, with the introduction of a new bill handing ultimate control for government-backed mortgage insurance to an increasingly strict OSFI.

  • BoC holding pattern pleases brokers

    A domestic economy regaining ground alongside its U.S. counterpart wasn’t enough stimulus for the Bank of Canada to increase its key overnight rate Tuesday, with the growing threat of global oil prices and uncertainty in Europe encouraging it to maintain the status quo.

  • Brokers blasé about qualifying rate hike

    Sunday’s 20-basis-point bump-up in the qualifying rate won’t likely win the Bank of Canada a slowdown in the housing market, say brokers, pointing to an all-but-complete shift away from variable rates and toward the five-year fixed.

  • Flaherty budget answers mortgage broker pleas

    PHEW! Brokers are breathing a sigh of relief after the Finance Minister rejected calls to tinker with mortgage insurance rules, offering a budget that leaves the maximum amortization cap at 30 years and the minimum down payment at 5 per cent.

  • No rule changes on budget blotter: Association head

    It’s likely what all brokers want to hear, and something they may have helped to bring about, with CAAMP President Jim Murphy suggesting the government has heard the industry’s concerns and will leave mortgage rules alone Thursday.