Carney says the Mortgage Market is Strong.
BOC Gov Mark Carney says the Mortgage Market is Strong and a Housing Bubble is non existent. He does not feel that structural changes to Canada’s mortgage market are needed. He thinks our mortgage market has performed well over the last ten year. I happened to agree. I guess he is referring to the idea that the feds were toying with about increasing down payment requirementsand shortening amortization periods. A move that would impact a lot of the new buyers to the market as they would have to save up larger down payments. A move like this would not be unheard of as the feds outlawed 40 year amortization and zero down mortgages a while back after fears of a potential bubble.
