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.
Have your say with Finance Minister Flaherty
Gary Mauris, President of DLC is seeking advice from everyone involved in the mortgage industry as he prepares to attend a pre-budget consultation roundtable with Canadian Finance Minister Jim Flaherty Jan. 19 in Regina, Sask.
Britons turn to credit cards to make mortgage payments
In what could be a warning of things to come for Canadians who may struggle their mortgage payments if interest rates rise, it has been reported that more than 2 million people in Britain have used credit cards to pay their mortgage or rent, an increase of almost 50 per cent in a year, according to the housing and homelessness charity Shelter.
Flaherty responds to banks' comments
While he still hasn’t ruled out tightening mortgage rules next year, Canadian Finance Minister Jim Flaherty thinks it is up to banks and not government to slow lending as household debt continues to rise, aided by low interest rates.
Banks won't impose own tighter mortgage rules: TD
Canadian banks are not likely to impose stricter mortgage qualifying rules on their own to curb the nation’s rising household debt, TD chief executive officer Ed Clark told The Globe and Mail.
Further tightening of mortgage rules not necessary say brokers
Finance Minister Jim Flaherty warned again on Monday the government could tighten mortgage rules further if needed, after a report showed the country's household debt levels have soared.
Flaherty says no mortgage rule changes, yet
The federal government has no plans to tighten mortgage rules again, said Finance Minister Jim Flaherty, cooling the speculation surrounding his meeting with the country’s leading economists yesterday.
Flaherty not worried about slowing house market
Federal finance minister Jim Flaherty said Thursday he is not worried about the slowing house sales in some Canadian markets and isn’t planning to reverse mortgage restrictions made earlier this year.