Do we need even MORE changes to mortgage qualification rules? The IMF thinks so!
March 25, 2015 | Posted by: Natalie Wellings
Now, before you really start to freak out about this, the article goes on to state that after the report’s release Jim Flaherty stopped to talk to reporters and stated that “it would take ‘clear evidence of a bubble’ in Canada’s housing- which he said outside of Vancouver’s hot market, doesn’t exist- for him to tighten rules further”.
CIBC’s Benjamin Tal also echoed Jim Flaherty’s statement and “called the IMF recommendation premature at best and at worst potentially damaging to an already fragile economy”.
Thank goodness the powers-at-be seem to be reacting sensibly to the IMF’s recommendations! If I get wind that there are any upcoming changes to mortgage qualifications I will let you all know!
Have a very Happy Thanksgiving everyone! I hope you have time this weekend so spend some quality time with your loves ones and to reflect on how truly blessed we are to live in such a great part of the world.