Jim Flaherty news

  • CMHC's requiem for refis?

    Refis through CMHC seem increasingly a thing of the past, with Q1 results pointing to an almost-70 per cent drop – a year-over-year decline dwarfing any dip in new mortgage volumes.

  • CMHC declines raise underwriting questions

    CMHC’s balance sheet is now revealing the full impact of Jim Flaherty’s tinkering, although brokers want to know if the scale of that decline also reflects more rigid underwriting.

  • Home Capital looking to double portfolio

    Tough times, only for some. Home Capital Group actually plans to double its book by taking on customers turned away by the big banks.

  • Debt-servicing changes stir brokers

    A move by two lenders to change their calculations on debt servicing ratios vis a vis unsecured lines of credit is raising broker eyebrows.

  • CMHC, bulk coverage on Flaherty’s radar

    Finance Minister Jim Flaherty told reporters last week that he had “no plans” to intervene in the nation’s housing market anytime soon – but only yesterday told a Senate committee that he is examining the role of the CMHC “very closely,” including a look at portfolio insurance.

  • GTA condo rentals skyrocket while sales plummet

    The tightening of the mortgage rules have had their effect – driving first-time homebuyers into the condo rental market, pushing average rents in the GTA to a record $1,856, and denying brokers those clients frustrated by Jim Flaherty’s stricter rules.

  • CMA winners defy rough market

    The 8th-annual CMP Canadian Mortgage Awards went off with a bang at Toronto’s Liberty Grand Friday with over 600 attendees recognizing industry players who’ve soared above a turbulent real estate market

  • Brokers pleased with Poloz as BoC governor

    Brokers are giving a thumbs-up to the appointment of Stephen Poloz as Canada’s next governor of the Bank of Canada.

  • CAAMP pushes Ottawa to leave ABCPs alone

    Following the last federal budget, those dealing in Asset Backed Commercial Paper have held their breath over the government’s move to limit housing risk, but CAAMP remains hopeful Ottawa is open to compromise.

  • Brokers erring on the side of caution at tax time

    Has Canada Revenue put the fear of God into brokers? Well, at least the fear of an audit, if the latest MortgageBrokerNews poll is any indication.