By tying the hands of the non-bank lenders and allowing to big banks to keep doing business as usual will not slow the mortgage market, as people can still purchase under the previous regulation providing they have 20% down. What it will do is cripple non-bank lenders, which are essential in maintaining a healthy, competitive market place.
G
Glenn Kane
9 years ago
Government has been picking on the mortgage industry because Canadians owe too much money. When is the government going to pick on visa and mastercard at outrageous rates, which are the biggest culprits in trying to reduce debt???
J
Jesse Hanson
9 years ago
Canada is GREAT how it is. Keep the rest of the banks out of this. PLEASE!
W
Winnie Fung
9 years ago
Please help Canadian to be able to buy their homes!
A
Anonymous
9 years ago
Alternate to the Big Banks is needed, don't allow all Canadians to be tied to the Big Banks.
C
cherie birch
9 years ago
This is completely insane
D
Dan Beresford
9 years ago
Once again the government favours the big 5. Instead of studying the current default levels of mortgages in Canada (the last time I checked we had the lowest default rates in the world) the government is giving in to protecting the big 5 and increasing their profits at the expense of the average Canadian. CMHC is a government institution created to help Canadians buy homes. It seems that it's mandate has changed to help the government protect the big 5. Mr. Prime Minister the government should not interfere with fair competition and should provide protection to a small segment of an industry.
P
Penny Williams
9 years ago
Instead of hurting the average home buyer, with these changes, why not go after the big money investors and some real estate agents who are the real culprits when it comes to the skyrocketing house prices.
S
Susan Reid
9 years ago
It is so important to give consumers choices. The mortgage solutions that many monoline lenders offer, give the consumer many opportunities to pay down their mortgages faster with lower interest and less penalties. I am hoping the Government will realize the importance of this and really review these decisions but that will negatively affect many thousands of Canadians.
C
Cathy Sehn
9 years ago
I feel that this change is unfair to consumers and will hurt many Canadian families
B
Brent Shepheard
9 years ago
Why not go after credit card companies for the 19.99% interest they charge?
Clearly in bed with the Big 5 banks limiting consumer choices.
A
Anonymous
9 years ago
Alberta has already had a rough year between fires and oil prices, we certainly don't need these new rules to ruin us completely
R
Ryan H
9 years ago
Why no public consultation with major industry players.
B
Bob Benson
9 years ago
Please undo what you have done, you are going to hurt a lot of people and take competition away from the mortgage market.
K
Karen Monteiro
9 years ago
Too many changes without thinking of the whole picture
T
Trevor Yerema
9 years ago
This is placing far too much power in the banks hands and os constricting a competitive industry.
D
Darren Quilley
9 years ago
These changes will negatively effect every Canadian.
A
Anonymous
9 years ago
juat horrible. This won't soften the market but destroy it.
A
Anonymous
9 years ago
This move will only make matters worse for first time home buyers. It will not affect the people it is intended to affect!
By tying the hands of the non-bank lenders and allowing to big banks to keep doing business as usual will not slow the mortgage market, as people can still purchase under the previous regulation providing they have 20% down. What it will do is cripple non-bank lenders, which are essential in maintaining a healthy, competitive market place.
Government has been picking on the mortgage industry because Canadians owe too much money. When is the government going to pick on visa and mastercard at outrageous rates, which are the biggest culprits in trying to reduce debt???
Canada is GREAT how it is. Keep the rest of the banks out of this. PLEASE!
Please help Canadian to be able to buy their homes!
Alternate to the Big Banks is needed, don't allow all Canadians to be tied to the Big Banks.
This is completely insane
Once again the government favours the big 5. Instead of studying the current default levels of mortgages in Canada (the last time I checked we had the lowest default rates in the world) the government is giving in to protecting the big 5 and increasing their profits at the expense of the average Canadian. CMHC is a government institution created to help Canadians buy homes. It seems that it's mandate has changed to help the government protect the big 5. Mr. Prime Minister the government should not interfere with fair competition and should provide protection to a small segment of an industry.
Instead of hurting the average home buyer, with these changes, why not go after the big money investors and some real estate agents who are the real culprits when it comes to the skyrocketing house prices.
It is so important to give consumers choices. The mortgage solutions that many monoline lenders offer, give the consumer many opportunities to pay down their mortgages faster with lower interest and less penalties. I am hoping the Government will realize the importance of this and really review these decisions but that will negatively affect many thousands of Canadians.
I feel that this change is unfair to consumers and will hurt many Canadian families
Why not go after credit card companies for the 19.99% interest they charge? Clearly in bed with the Big 5 banks limiting consumer choices.
Alberta has already had a rough year between fires and oil prices, we certainly don't need these new rules to ruin us completely
Why no public consultation with major industry players.
Please undo what you have done, you are going to hurt a lot of people and take competition away from the mortgage market.
Too many changes without thinking of the whole picture
This is placing far too much power in the banks hands and os constricting a competitive industry.
These changes will negatively effect every Canadian.
juat horrible. This won't soften the market but destroy it.
This move will only make matters worse for first time home buyers. It will not affect the people it is intended to affect!
Keep the competition and stop the monopoly !