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

2015’s Effects Carry Over

The events of 2015 were another reminder that the mortgage market never stops evolving, especially when it comes to policy-making. CMT’s Top 5 stories of last year (listed below) told part of that tale.



   2015’s Effects Carry Over   

      

2015’s Effects Carry Over



iStock_000032469126_MediumThe events of 2015 were another reminder that the mortgage market never stops evolving, especially when it comes to policy-making. CMT’s Top 5 stories of last year (listed below) told part of that tale.

We saw:

  1. Ottawa raise the minimum down payment
    • Long-term effect: Minimal in major housing markets; somewhat negative for higher-end homes in smaller markets.
  2. FICOM propose to reveal broker compensation
    • Long-term effect: Potentially, a small reduction in broker income, a minor advance in consumer protection and little or no improvement in borrowers’ ability to choose the best mortgage. More
  3. Home Trust terminate rogue brokers
    • Long-term effect: A meaningful tightening of anti-fraud measures industry-wide.
  4. The Bank of Canada cut rates (twice)
    • Long-term effect: Ongoing support for elevated home values in hot markets and a continuance by the banks of only partially matching BoC rate cuts.
  5. The Liberals take over Parliament
    • Long-term effect: Only minor housing policy changes for the foreseeable future.

The first three events will make life slightly more challenging for brokers in 2016, but not enough to complain about. If the economy and oil don’t rebound, however, the bigger challenge (for mortgage volumes) may potentially come from wider mortgage funding spreads, growing debt loads, higher unemployment and higher arrears.

Admittedly, that’s a somewhat dreary forecast. In weather terms, it’s like expecting light rain. But we’re hoping for sun.

 

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

two × five =

 

Polls

Do you expect more rule tightening for Canada's mortgage market in 2016?


 
<< 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