xhamster porno

I Would Like to be Contacted

First name:
Last name:

Validation code:
   * All fields are mandatory

Contact Information

2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com

17 May 2019

Stephen Poloz doesn’t think changes to mortgage stress test are necessary

Despite all the calls, the governor of the Bank of Canada doesn’t think changing mortgage stress test rules is necessary.

"I don’t approve of it," - Stephen Poloz said in his recent interview when answering the question on pressure to ease certain rules.

During the recent months, we’ve heard real estate boards of Canada’s two largest housing markets pointing to undesirable consequences of the B-20 mortgage guideline, which was introduced by the OSFI last year. According to the new mortgage stress test, even borrowers who provide at least 20% down payment have to undergo the test.

However, Poloz doesn’t believe the rule should be changed, stating that previous warnings didn’t help.

"In my opinion, we’ve been giving borrowers a chance to make their own stress tests for several years, as it was quite logical not to think that rates will remain as low forever”, - he said.

"But we didn’t see much reaction to it. That’s why I believe the rules are providing the necessary influence, and people are adjusting to them”.

Although the B-20 rules were named as one of the factors causing a sharp annual home sales decline in Metro Vancouver, Poloz says the influence is not so significant outside Vancouver and Toronto, where real estate prices had skyrocketed before the government decided to interfere.

"In the cities, which haven’t shown too high activity, borrowers are adjusting normally”, - he noted. “From Winnipeg to Ottawa, Montreal, Halifax, Moncton, the markets behave just the way we’ve planned. That’s why I believe the rules are working”.

While the BoC's Financial System Review admits improvements when it comes to solving the vulnerabilities issue concerning consumer debt and housing market imbalances, it also points at the risk category of Canadians. According to the Bank, 42% of households may face difficulties with refinancing their mortgages in case real estate prices go down by 20%.



Add comment

Security code


13 September 2019

Federal parties are pressured to adjust B-20 before the election As October federal election is coming, Canadian real estate boards are demanding imp...Read more >>

12 September 2019

Smaller condos and larger houses – two main extremes of Canada’s real estate market In case you think your condo has become smaller, don’t worry, it’...Read more >>

11 September 2019

Most Canadians blame foreign buyers for home prices increase The recent poll by Equifax shows that almost two out of three Canadians consider foreig...Read more >>
Licence# 10349

7676 Woobine Avenue Suite 300 Markham, ON L3R 2N2
2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
© 2010 Michael Tulchenetskiy & Denys Derzhavets Mortgage Brokers. All Rights Reserved