Please reconsider these changes as it will halt the ecomony and create a backlash we cant even imagine
T
Tony Passalacqua
9 years ago
These changes will hurt the people it intended to protect such as the first time home buyers.
A
Anonymous
9 years ago
This is a knee jerk reaction that could have serious consequences on the economy...must study this more.
D
Donna Telep
9 years ago
I strongly agree with this petition as it will eliminate choices for many consumers. In many cases individuals will be unable to shop out their mortgage on renewal as they will now be unable to qualify with these new rules. I also believe that this is targeting a very low risk side of the market unreasonably.
S
Susan Cowling
9 years ago
Most Canadians gain their primary wealth through home ownership - this is all wrong! Try putting some restrictions on credit cards and loans instead. Clothes and cars are not of any value.
J
Joseph Bowes
9 years ago
The new mortgage rules are a stupid decision that will hurt the Canadian economy and first time home buyers, and quite ridiculously enrich the Big Banks. Really? ... Instead the rule-makers should be doing something about credit card debt and the usurious rates enoyed by the Big Banks.
A
Anonymous
9 years ago
I fear the big banks in Canada will now become as Big Pharma in the US.
J
Johnson Cheng
9 years ago
Price control is the duty for the government not the borrower.
S
Sarah Levine
9 years ago
.
K
Kevin Walker
9 years ago
Oh Canada
V
Vicki Love
9 years ago
By limiting competition from non-bank lenders, doors open to too much possibility of major banks taking advantage of the average client.
A
Anonymous
9 years ago
New rules hurt first time home buyers the worst. I'm very concerned about these new rules.
S
Shari Letsos
9 years ago
Too extreme and the rules aren't giving anyone time to adjust to them. And for whose benefit are they for? Definitely not us brokers and definitely not the consumer. All this is doing is restricting - our already restricted business. The crash in 2010 stimulated a huge increase of mortgage defaults but since the 3rd quarter of 2012 they have been on a steady decline. I could understand the rules coming into play if we were seeing a surge of defaults but that is not the case and you are hurting everyone.
D
Derek Christiansen
9 years ago
These changes are extreme. They will destroy competition in the market place tying the hands of the non-bank lenders and effectively favoring the Big Banks once again. Consumers will lose, mortgage brokers will lose their jobs by the thousands, and companies like First National, Street Capital, MCAP etc, will all suffer hugely - i would imagine many won't survive the long term under these policies.
K
Kenzie MacDermid
9 years ago
A gift to the Big Banks, designed to help them retain their clients and charge them more. Hurting those who need lower interest rates the most. I find it funny coming from the same government that boasts about borrowing money at low costs. Collusion is the word that comes to mind.
C
Catherine E Fogarty
9 years ago
Once again the Feds are slinging in our sandbox rather than that of credit card companies, auto finance companies, and loan stores! We seriously need to speak out against this...
Our Government is relegating a whole generation of renters. I am sure that is not in the spirit of Pierre Trudeau's efforts to make home ownership possible for all Canadians.
A
Anonymous
9 years ago
this is the second time the mortgage regulations are putting me out of work unto the unemployment line
K
Keith Leighton
9 years ago
Keep competition in the mortgage market. These new policies will reduce competition leading to less choice and higher costs to Canadians.
C
Crystal Donnelly
9 years ago
Keep competition healthy in Canada. Don't take away valuable options. All industry players should have been involved in the discussions prior to policy changes.
This will send Canada into a resession
Please reconsider these changes as it will halt the ecomony and create a backlash we cant even imagine
These changes will hurt the people it intended to protect such as the first time home buyers.
This is a knee jerk reaction that could have serious consequences on the economy...must study this more.
I strongly agree with this petition as it will eliminate choices for many consumers. In many cases individuals will be unable to shop out their mortgage on renewal as they will now be unable to qualify with these new rules. I also believe that this is targeting a very low risk side of the market unreasonably.
Most Canadians gain their primary wealth through home ownership - this is all wrong! Try putting some restrictions on credit cards and loans instead. Clothes and cars are not of any value.
The new mortgage rules are a stupid decision that will hurt the Canadian economy and first time home buyers, and quite ridiculously enrich the Big Banks. Really? ... Instead the rule-makers should be doing something about credit card debt and the usurious rates enoyed by the Big Banks.
I fear the big banks in Canada will now become as Big Pharma in the US.
Price control is the duty for the government not the borrower.
.
Oh Canada
By limiting competition from non-bank lenders, doors open to too much possibility of major banks taking advantage of the average client.
New rules hurt first time home buyers the worst. I'm very concerned about these new rules.
Too extreme and the rules aren't giving anyone time to adjust to them. And for whose benefit are they for? Definitely not us brokers and definitely not the consumer. All this is doing is restricting - our already restricted business. The crash in 2010 stimulated a huge increase of mortgage defaults but since the 3rd quarter of 2012 they have been on a steady decline. I could understand the rules coming into play if we were seeing a surge of defaults but that is not the case and you are hurting everyone.
These changes are extreme. They will destroy competition in the market place tying the hands of the non-bank lenders and effectively favoring the Big Banks once again. Consumers will lose, mortgage brokers will lose their jobs by the thousands, and companies like First National, Street Capital, MCAP etc, will all suffer hugely - i would imagine many won't survive the long term under these policies.
A gift to the Big Banks, designed to help them retain their clients and charge them more. Hurting those who need lower interest rates the most. I find it funny coming from the same government that boasts about borrowing money at low costs. Collusion is the word that comes to mind.
Once again the Feds are slinging in our sandbox rather than that of credit card companies, auto finance companies, and loan stores! We seriously need to speak out against this... Our Government is relegating a whole generation of renters. I am sure that is not in the spirit of Pierre Trudeau's efforts to make home ownership possible for all Canadians.
this is the second time the mortgage regulations are putting me out of work unto the unemployment line
Keep competition in the mortgage market. These new policies will reduce competition leading to less choice and higher costs to Canadians.
Keep competition healthy in Canada. Don't take away valuable options. All industry players should have been involved in the discussions prior to policy changes.