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Mortgage Broker News | 08 Feb 2017, 08:15 AM Agree 0
Finance Minister Bill Morneau will be invited to the next Standing Committee on Finance meeting to discuss the Canadian Residential Real Estate Market, following a suggestion that he should answer questions directly about the most recent mortgage rule changes
  • Bert Czombos | 08 Feb 2017, 02:10 PM Agree 0
    according to the Immigration, Refugees and Citizenship Canada's own website - the overall target for new permanent residents in 2017 is 300,000. adding in 300,000 for 2016 - that's 600,000 people coming to Canada that are going to require housing. Many of these folks are going to want to BUY housing. If not, then at the very least renting. Yet our Federal Gov't (the very same one that sets immigration targets) turns around and makes it more difficult to obtain a mortgage for a primary residence - and vastly more difficult to obtain a mortgage for a rental property. In fact several lenders as we know have eliminated rental property mortgages from their menu of products altogether. So yes - I would think the Federal Minister RESPONSIBLE for the decisions should be there to answer questions.
  • Tony Colalillo | 08 Feb 2017, 03:11 PM Agree 0
    They should also ask OSFI to participate. An excellent debate could commence regarding how the Ministry of Finance can justify the $372 million "repayable" loan to Bombardier under OSFI's new guidelines concerning 'prudent' lending practices, especially given the fact that our federal government has advanced $1.57 billion (inflation adjusted) dollars to Bombardier since 1961. I wonder what the current "repayment" schedule looks like.
  • Bill Ferguson | 08 Feb 2017, 03:41 PM Agree 0
    Why don't you invite Hilliard Macbeth, Toss Kay, Garth Turner and Steve Saretsky to your gab-fest?
  • Bill Ferguson | 08 Feb 2017, 03:52 PM Agree 0, that should read "Ross |Kay"...
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