Mortgage Rules in Canada
Jim Flaherty is saying that he has no plans to change the rules. This came out of a Dec speach where here opened a can of worms regarding larger down payments and shorter amortization periods, in response to questions regarding potential real estate buble. He is now saying that he does not see a buble coming but wants the public to know that he has made changes like this before and may again if need be. I feel for the politicians on issues like this because they get peppered with questions and then thier answer get cut and pasted. Is it realy news that the Fed Gov can change the rules/laws. This after all is what they do in Ottawa isnt it?
