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Fitch ratings: Mortgage rules a 'step forward'

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Real Estate Professional | 12 Oct 2016, 02:28 PM Agree 0
The new rules will cool the markets in Toronto and Vancouver and improve credit quality, according to the agency
  • LOL | 12 Oct 2016, 02:53 PM Agree 0
    Actually for most of the market ($300,000 to $1 million) in these cities it will have the complete opposite effect!
  • LanceH | 12 Oct 2016, 04:06 PM Agree 0
    I think both the Feds and Fitch are looking at this from a very simplistic view. The number of issues brought up by a variety of brokers and bankers are numerous to say the least. What's going to happen to all those folks that just bought condos that don't complete til after the rule change and they no longer qualify? What's going to happen when the stress test is lifted - as it inevitably will be - and there's a mad rush of pent up demand they caused? That's 2, there's another 20 where those came from . . . .
  • bobb | 12 Oct 2016, 04:41 PM Agree 0
    so the provincial governments pick up 15% thus sharing in the profit from an investors risked $$, etc.
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