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Fears of Government Intervention for Mortgage Industry.

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2010-02-12 11:45:31

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	Genworth Acting with Great Care. The federal government is considering a new mortgage rule where clients who take out variable rate mortgages must be qualified based on a higher interest rate, according to the Globe and Mail. This is a practice Genworth Financial already has in place. Details of this highly important story CMP Magazine In my opinion we need to use slightly tighter guidelines where variable rate mortgages are concerned. Government intervention to legislate higher down payment requirements will only serve to keep First Time Buyers out of the marketplace completely. Check out our best rates below. A Happy Valentine's & Family Day to all! "Your Durham Mortgage Solutions" WEEKLY E-RATES CLICK HERE Elfie Hayes Lowrate.ca Your Subscription:

** Interest Rates are provided for information purposes only and are subject to change at any time without notice. The products listed above are available only in Canada to Canadian residents. Rates shown are for single-family residential properties only and are subject to meeting all lender credit granting criteria. Rates shown above may be specific to the sender and some conditions may apply. E&EO Mortgage Agent Lic # M08001377* Mortgage Brokerage Lic # MI10428 * The information and opinions contained in this document are obtained from various sources and believed to be reliable, but their accuracy cannot be guaranteed. The publisher assumes no responsibility for errors and omission, or for damages resulting from using the published information and opinions. This document is provided with the understanding that it does not render legal, accounting, or other professional advice. Whole or partial reproduction is forbidden without written permission.