CMHC defends mortgage stress test changes amid calls for loosening rules – Ponoka News

Canadian home sale rose in July in broad gains as markets start to recover from the stress test tightening last year. The federal government updated mortgage qualification rules at the start of.

CMHC defends mortgage stress test changes amid calls for loosening rules Aleksandra Sagan, The Canadian Press Published Thursday, May 23, 2019 2:52PM EDT

CMHC defends mortgage stress test changes amid calls for loosening rules The increase was led by gains in Greater Vancouver and Vancouver Island, the Greater Toronto Area, London and St. Thomas.

"The stress test is doing what it is supposed to do," CEO Evan Siddall wrote to parliamentarians. The CEO of Canada Mortgage and Housing Corporation is forcefully defending mortgage stress test rules and warning federal policy makers to hold the line amid calls for the measure to be changed.

That represented a roughly two-per-cent rise since Ottawa’s new mortgage stress test for traditional. tougher government lending rules, higher borrowing costs and other factors. This is the first.

CMHC defends mortgage stress test changes amid calls for loosening rules Aleksandra Sagan, The Canadian Press, at 18:05 on May 23, 2019 The CEO of Canada Mortgage and Housing Corporation is forcefully defending mortgage stress test rules and warning federal policy-makers to hold the line amid calls for softening the measure from industry.

CMHC head issues sharp defence of mortgage stress test as calls grow to loosen rules ‘Critics of the stress test ignore the fact that high house prices are the overwhelming reason why home.

CMHC defends mortgage stress test changes amid calls for loosening rules A house for sale is pictured in this undated file photo. Aleksandra Sagan, The Canadian Press

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OTTAWA – The Canada Mortgage and Housing Corporation is defending the mortgage stress test amid calls for the measure to be changed. President Evan Siddall says in a letter to the Standing Committee on Finance that the new measure is working as intended to lower house prices and protect Canadians from borrowing too much money.

Canadian home sale rose in July in broad gains as markets start to recover from the stress test tightening last year. The federal government updated mortgage qualification rules at the start of.

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