Keep Competition in the Canadian Mortgage Market

The rate is fine for qualifiction but power we are giving the big five is beyond any reasonable competition.

Justin must reverse these changes now.

This rule is a HUGE mistake and must be reversed as soon as possible before it send the Canadian economy into a slow-down.

This situation is helping the rich get richer. It also is a situation which will certainly have people doing more fraud. This in itself will be a bigger problem for all.

"The urge to save humanity is almost always only a false-face for the urge to rule it." H.L. Mencken

These new changes take things too far. The main change I would like to see reversed is making all clients qualify at the bank of canada rate. Interest rates can change a lot in 5 years and their balances will be paid down significantly so even if rates are a bit higher it won't drastically impact their new payment.

This change will keep a lot of Canadians out of the housing market. It's hard enough now with the current rules.

this new plan has the potential to eliminate monolines and borrower options which has kept the banks competitive. It will put many Canadians out of work. how can this decision be good for our economy.

Provides the big 6 Banks with a major market advantage in the 30 year amortization world, which would be a big disadvantage to all Canadian with a less competitive market place.

This will drive the rental market sky high ultimately creating division of class. How is this going to impact Canadians 25-30 yrs from now when they haven't been able to purchase a home. Is Canada prepared to fund higher CPP and OAP? Is canada willing to subsidize for housing further? With ownership declines this will be a sad reality. Mr Trudeau I'm truly disappointed once again. You rallied for the middle class. You can't talk out of both sides of your mouth.

not only will these changes hurt the new home buyer, monoline lenders, and mortgage agents across the country, it will also hurt new home owners as the homes they recently purchased will considerably decrease in value thus making impossible for them to sell if required in the next few years. These new policies provide to much of an advantage to the big banks and will remove healthy competition in the industry thus hurting the consumer in the long run.

New rules must be softened to ensure a smooth transition for all parties impacted

Once again Ottawa gives the big six banks a competitive advantage. I guess making 2 Billion a quarter isn't enough...

I'm a mortgage broker and the way this was rolled out is horrible. Clients with pre-approvals, clients with long term closing for new construction, removing monolines ability to refinance? Seriously? 25 year AMs on conventional mortgages? Who did you consult with besides the big 5 banks? You will be taking away so many jobs for hard working industry professionals. You are the cause of the stall that would have never taken place.

Something needs to change here !

What is missing here is that this needs to be a process...for so many reasons. I am not against all of these changes...but changes need to be executed in a responsible fashion. I think that applying all of these changes at once and overnight is going to not only create hardship but will make it very difficult to understand down the road the effect of each of the changes.

This is will have a major impact on every sector. Instead of helping the Canadian economy they want to implement this which will lead to so many more job losses. Our banking system has kept us in a good position, the lender and insurance rules have been doing a good job with delinquency rates, so there is no need to be so drastic.

You make it hard for the middle class to own home. Rich just get richer

Stop these ridiculous changes . Stop forcing people to pay 1200 to 1600 in rent when they can pay less to noon they're own home .

The same rules should apply to the banks