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The bank said no. No what?
Investors Group threw coals on the housing fire this week by cutting its three-year variable mortgage rate to a market-share-boosting 1.99%. Federal Finance Minister Joe Oliver is watching.
As competitive pressures among lenders push rates down to nearly unheard-of levels, the government keeps trying to cool things off. It is a delicate public/private balancing act.
CMHC, the federal mortgage insurer, recently stopped insuring mortgages on second homes and tightened requirements for the self-employed, requiring independent validation of income statements.
Read the full article here.
Investors Group threw coals on the housing fire this week by cutting its three-year variable mortgage rate to a market-share-boosting 1.99%. Federal Finance Minister Joe Oliver is watching.
As competitive pressures among lenders push rates down to nearly unheard-of levels, the government keeps trying to cool things off. It is a delicate public/private balancing act.
CMHC, the federal mortgage insurer, recently stopped insuring mortgages on second homes and tightened requirements for the self-employed, requiring independent validation of income statements.
Read the full article here.