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A Day In The Life - Real Estate |
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Tuesday, 16 February 2010, 02:45:39 PM | | You may have heard or read earlier today that the Finance Minister, Jim Flaherty, announced new guidelines for qualifying for mortgages. In short, this is probably a good thing as it will clearly show prospective buyers what may lay ahead if interest rate rise. The fear is that Canadian home buyers are going too deep into debt and have no "bufffer" zone, should interest rates rise (increasing their mortgage payments at time of re-newal) in the future. We think this is a "realistic" approach and hope they don't bring about some of the measures they have talked about. What do you think? Clearly, first time buyers are at the focal head of this, but investors are affected as well. It would be interesting to view some of your thoughts on these measures. *you can find the full press release on our web page cover under "did you know?". | | Post a new comment | | | no comments so far |
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