Comments on: Canadian Mortgage Rules To Change Says Flaherty

By: 3 Possible Market Bubbles on the Horizon

3 Possible Market Bubbles on the Horizon — Wed, 10 Mar 2010 13:41:50 +0000

[...] previously mentioned last week, the Canadian Government played with Canadian mortgage rules in order to reduce accessibility to the housing market. With these measures, it hopes to slow down [...]

By: Mortgage Broker

Mortgage Broker — Wed, 17 Feb 2010 20:27:15 +0000

Not crazy about the 20% down for rental properties. It eliminates a lot of small-time investors who would like to purchase a rental property for extra cash flow and to build their net worth…many of them cannot afford to start off with 20% down. Why make the drastic jump from 5% to 20% d/p?

Make it 10%, and drop the amortization to max 30 years, sure! That would still weed out the clients who can’t afford the high payments, but still gives them the equity if they need to turn around and sell the house–and the insurers/lenders too in the foreclosure cases

By: The Financial Blogger

The Financial Blogger — Wed, 17 Feb 2010 15:08:13 +0000

and I just read a simiar thread at Million Dollar Journey

I would have hope for more restricting rules… like max amortization of 25 years and minimum cash down of 10%… oh well…

By: The Rat

The Rat — Wed, 17 Feb 2010 15:02:26 +0000

Definitely newsworthy; I just did a thread on the same topic. I think the third change is definitely among the most cautionary moves by the Fed”s.