Tag Archives: mortgage

Canada, CMHC, mortgage, opinion

CMHC looks to make mortgages easier to get

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The CEO of the Canadian Mortgage and Housing Corporation has said that requiring new Canadians and the self employed to prove income is ‘discriminatory’ and they are looking to make mortgages easier to get:

“Right now, under our mortgage insurance policies, you have to be able to document income to get mortgage insurance, to a level of specificity that discriminates against new Canadians, because they can’t do that,” Evan Siddall, the CEO of the Canada Mortgage and Housing Corp., said in a wide-ranging interview with The Canadian Press.

“It discriminates against entrepreneurs, as well, because they can’t prove their income as well, so we’re looking at our own policies to try and make sure that there is more equity in our mortgage insurance programs,” he said.

Read the full article here.

debt, economy, predictions, rates

BIS warns on interest rates

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From southseacompany: another warning about rates knocking back growth.

“The world has become so used to cheap credit that higher interest rates could derail the global economic recovery, the Bank for International Settlements has warned.”

“After cutting interest rates to all-time lows and pumping trillions of dollars into markets to boost growth in the aftermath of the global financial crisis, central banks are now preparing to tighten their monetary policies.”

“All this underlines how much asset prices appear to depend on the very low bond yields that have prevailed for so long.”

Read the full article here.

Open Topic

Friday Free-for-all! August 19th 2016

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364 Comments

It’s that time of the week again, Friday Free-for-all time!

This is our standard end of the week news round-up and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat:

–How to deal with 200+ comments
–Canada a real estate nation waiting to crash
–Industrial market nothing like residential market
–Housing Action for Local Taxpayers
–Auditor warnings on real estate ignored for 20 years
–Subprime lending is booming
–Working for free in Vancouver
–Is real estate market in free fall?
–Agent: best time to buy in 2 years
–Absorption rate at 25%
–Sold as percent of inventory by day
–Vancouver moves ahead with affordable housing
–

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

BC, debt, economy, mortgage, opinion, predictions, prices

Gentleman says “It’s not if, but when bubble bursts.”

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CCEC Credit Union is a vancouver-based lender.

Their CEO has the delightful name of “Ross Gentleman” and is interviewed over at BNN where he says that the Vancouver housing market is in a bubble and it’s not if, but when it bursts:

He says they are seeing a number of people ‘trolling’ lenders looking for financing on speculative purchases.

He calls the upper end of the market potentially more volatile and says that CCEC is committed to more conservative lending and tends to focus mainly on primary residences.

Open Topic

Friday Free-for-all! March 18th 2016

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247 Comments

It’s the end of another week and that means it’s Friday Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat:

–Ignorance not bliss?
–Conrad Black, renter
–Not a good renter
–500 imaginary sq. feet
–Fed keeps rate steady
–How FTBs are doing it
–

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!