New mortgage rules?

by Nigel
(Dalkeith, Ontario Canada)

What are your thoughts on the new rules on mortgages put in place by Flaherty? And how will this affect real estate investing?

Comments for New mortgage rules?

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Aug 10, 2012
RE: New Mortgage Rules
by: Tom Karadza

Mortgage changes, when used to tighten lending, will usually put downward pressure on prices. However, these changes are so minor (25 year amortization is the only thing we had above 6 years ago) that we expect no major impact.

Having said that, real estate is a "local" business. So this could be the tipping point for Toronto Condos or some high flying communities.

Like always, different communities, even in the same city, will act differently to the changes.

Tom.

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