Friday, March 19, 2010
More Changes in Canada Mortgages Coming?
I have heard today about more rule changes coming from CMHC and Genworth regarding the use of suite income to qualify for mortgages. The rule changes are continuing to make mortgages more difficult for clients to qualify. The shift is going too far, too fast and could have the opposite result that they are trying to avoid. Creating a housing bubble. They changes have the potential to real create a housing problem for a lot of clients. We need to get back to common sense lending before we go too far on all the mortgage rule changes.