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• Paul Hudson 2018-06-19 2:20:11 PM Well stated! Due to the lack of refinance options available now, some clients who would have been "A-clients" two years ago, are paying 10-18% for second mortgages when applying in 2018 (plus fees in some cases), instead of being able to consolidate new debt into a first mortgage at about 3%, as has been done in the past (not all refinances are people irresponsibly ATMing their house to support an unsustainable lifestyle; sometimes it's due to divorce, starting a business, investment, renovation...). The federal government basically "got-it" half right when it implemented this legislation.

• putlockerfit 2018-06-19 1:18:15 AM Great article..

• Icei 2018-06-18 5:36:35 PM Fire the associate professor.

• Ray Rochefort 2018-06-14 3:54:49 PM I've had clients who had a lot of unsecured debt and refinancing was not an option, other than private 2nds. What a few have done, and it's a little drastic, is they sell their current residence, pay off all of their debt and then buy another one with 5% down. Effectively, they got 95% on a refi. Of course there's the cost of buying and selling, but it has worked for them and their payments are way lower now!

• Romesh Lakhanpal, Mortgage Broker 2018-06-14 10:55:09 AM I think that serviceability will be a major challenge with the prospect of increasing interest rates. Home owners who cannot pay the mortgages will be looking to sell the property. This will lead to over-supply and we all know that in the buyers' market the price is dictated by the cash rich buyers who would not mind making a killing. Once defaults start happening, the prices are sure to nose dive. Let's keep our fingers crossed and tread with caution.