As he sees it, there’s just one problem. “The problem is, it was probably too much, too quick.”
Mortgage stress test vs. high interest rates: which has impacted the Canadian housing market more?
The Canadian government should begin to ease on the much-tightened mortgage regulations introduced at the beginning of this year, as these rules have already fulfilled their mandate of moderating housing markets.
The recent interest rate hikes along with the implementation of tighter mortgage rules have moderated the risk of debt for a growing number of borrowers, according to a Bank of Canada research note released last week.
Mortgage rules implemented over the past two years, along with rising interest rates, have worked to improve credit quality and reduce the number of highly indebted borrowers in the market.
Mortgage professionals from across Canada descended on Montreal last weekend for the annual National Mortgage Conference.
Hosted by Mortgage Professionals Canada, the annual gathering was once again well attended, with about 1,200 participants and 60+ exhibitors at the Exhibitor Expo.
The two-day event featured a mix of educational sessions, industry updates, networking events and keynote speakers.
National home sales improved in July with a 1.9% rise in sales compared to the previous month. CREA says that although sales have been trending