Equity Refinance Mortgage Loans Canada - Equity Mortgage Loans Canada - Second Mortgage Loans Canada
Mortgage Loans Canada, Mortgage Refinance Canada, Equity Mortgage Loans CanadaOnline Mortgage Application Form Instant Mortgage Approval 1-866-573-3122 24 HOUR CUSTOMER SERVICEEQUITY REFINANCE MORTGAGE LOANS CANADA BLOGMortgage Canada Buying and selling a home cheat sheetMortgage Canada Words To Know When Buying A HomeImportant Mortgage Websites linksMortgage Canada Basics - Mortgage Canada GuideMortgage Canada CMHC Newcomers to Canada Buying your First HomeMortgage Canada CMHC Home Buying Step By StepMortgage Canada CMHC Condominium Buyers GuideMortgage Canada Compare all Canadian Credit CardsHow Credit Effects Your Canadian MortgageMortgage Canada CMHC Housing Market Outlook Canada Edition Page 1Mortgage Calculator - Mortgage calculators allow you to make informed mortgage decisions
Equity Refinance Mortgage Loans Canada, Home Equity Unlocking, 1st & 2nd Mortgages, Your Mortgage Experts. My right Mortgage, INSTANT APPROVAL 24/7 CUSTOMER SERVICE FAST MORTGAGE PAYOUTS IN CANADA HIGHEST MORTGAGE APPROVAL RATE IN CANADA 1-866-573-3122

HOME BUYING, BUYING YOUR FIRST HOME & INFORMATION FOR SEASONED HOMEBUYERS
FINANCIAL CONSUMER AGENCY OF CANADA
CANADIAN ECONOMY NEWS
MORTGAGE BROKER NEWS
October, 2015
November, 2015
December, 2015
January, 2016

Federal government to raise capital that lenders need to back mortgages by Ephraim Vecina | 21 Dec 2015

Cannot execute a query to SQLite database.
Mortgage growth is projected to slow down after the Office of the Superintendent of Financial Institutions announced its intention to increase the capital requirements for lenders who will back residential mortgages, experts said.
 
In addition, the Canada Mortgage & Housing Corp. is contemplating a raise on the cost to securitize home loans.
 
Observers said that these moves are in line with the federal government’s effort to stave off further price increases. Costs have spiked up by an average of 9.9 per cent, translating in a rise to $621,883 in Toronto and to $893,864 in Vancouver.

 
 

Federal government to raise capital that lenders need to back mortgages

by |
 
Mortgage growth is projected to slow down after the Office of the Superintendent of Financial Institutions announced its intention to increase the capital requirements for lenders who will back residential mortgages, experts said.
 
In addition, the Canada Mortgage & Housing Corp. is contemplating a raise on the cost to securitize home loans.
 
Observers said that these moves are in line with the federal government’s effort to stave off further price increases. Costs have spiked up by an average of 9.9 per cent, translating in a rise to $621,883 in Toronto and to $893,864 in Vancouver.
 
Analysts warned, however, that these steps will make it more difficult and expensive for Canadian banks to operate in the housing market, as they will have to implement stricter standards and narrower margins while slowing down on mortgages and credit lines.
 
According to industry players, the scenario is fraught with risks, especially in the current climate of default risks and growing home prices.
 
“The added capital for banks is a safety measure. The banks will issue fewer loans, and that will cool the market. It won’t kill it, but it will cool it,” Canadian Imperial Bank of Commerce deputy chief economist Benjamin Tal told Financial Post.
 
Private sector representatives agreed with the assessment, with some firms already adjusting charges for annual guarantees of at least $7.5 billion.
 
“It encourages the private market by bringing the cost of doing business … more in line with the market. This is one step to making the private market more attractive,” DBRS Ltd. vice-president Paul Bretzlaff said.

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

 

Name (required)
   
Comment (required)
   
 
   
   
  By submitting, I agree to the Terms & Conditions
 
 
 
 
<< Back Add New Comment
0 items total
Add New Comment
Name*
Subject*
Comment*
Please type the confirmation code you see on the image*
Reload image

Powered by 4GoodHosting