The Real Estate Show: Conservative MP Tom Kmiec denounces mortgage “gimmicks”

This year’s federal budget had some big-ticket items for real estate and, most importantly, some incentives for first-time homebuyers. But these measures are gimmicks, according to Conservative Deputy Finance Critic Tom Kmiec, member of Parliament for Calgary Shepard. On a recent episode of CJAD 800 Montreal’s Real Estate Show, Kmiec told host and North East…

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OSFI Dropped the Hammer on the Mortgage Market

OSFI dropped the hammer on the mortgage market this week. The changes to its mortgage underwriting standards were revealed and they are looking to further tighten the Canadian lending standards. This is the final revision of Guideline B-20 -Residential Mortgage Underwriting Practices and Procedures. The new rules will be taking effect on January 1st, 2018 and are applicable…

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