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Federal Government Looks to Adjust Housing Market... Again!

Posted on August 6, 2013 by Tom Bushey

Posted in: Buying a Home In Calgary , Mortgages , Selling a Home In Calgary

For the fifth time in five years, Federal Finance Minister Jim Flaherty announced additional rules for Mortgage Lenders, designed to calm what he sees as a "hot" housing market. This round, the government is, in effect, implementing a cap on the amount of loan guarantees the CMHC provides to Lenders.

Market effects? Short-term, there will likely be upward pressure on interest rates by 20 to 60 basis points, despite the Bank of Canada's signal of interest rate stability.

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