Canada Should Allow 40 Year Mortgages ONLY for Renewals: Financial Post

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Name	Canada Should Allow 40 Year Mortgages ONLY for Renewals: Financial Post
Video Uploader	Video From Mark Mitchell - Mortgage Broker London Ontario
Upload Date	This Video Uploaded At 24-06-2024 16:15:02
Video Discription	#canadianrealestate #canadianeconomy #canadamortgagerates The Canadian government should allow 40 year mortgages amortizations for those renewing after extreme interest rate hikes – this from the Financial Post responding to a CMHC report saying they shouldn’t. Links: Note to CMHC: Extended amortizations help mitigate mortgage risks: https://financialpost.com/real-estate/mortgages/cmhc-extended-amortizations-help-mitigate-mortgage-risks Residential Mortgage Industry Report: https://assets.cmhc-schl.gc.ca/sites/cmhc/professional/housing-markets-data-and-research/housing-research/research-reports/housing-finance/residential-mortgage-industry-report/2024/residential-mortgage-industry-report-spring-2024-en.pdf Are 40-Year Mortgages Really that Risky?: https://storeys.com/are-40-year-mortgages-really-that-risky/ Special investigation: How high-risk mortgages crept north: https://www.theglobeandmail.com/report-on-business/special-investigation-how-high-risk-mortgages-crept-north/article1067885/ Ottawa tightens mortgage rules to avoid 'bubble': https://www.theglobeandmail.com/report-on-business/ottawa-tightens-mortgage-rules-to-avoid-bubble/article4221541/ 40 year mortgages leave buyers at risk of retirement crisis: https://www.msn.com/en-gb/money/other/40-year-mortgages-leave-buyers-at-risk-of-retirement-crisis/ar-BB1nB460 Almost one third of Canadian homeowners with a mortgage now have amortization periods of more than 30 years: https://www.thestar.com/business/almost-one-third-of-canadian-homeowners-with-a-mortgage-now-have-amortization-periods-of-more/article_27f95764-9d64-5f29-99ac-44249949379e.html Mortgage Calculator: https://itools-ioutils.fcac-acfc.gc.ca/MC-CH/MCCalc-CHCalc-eng.aspx Financial Stability Report—2024: https://www.bankofcanada.ca/2024/05/financial-stability-report-2024/ HSBC shakes up homebuying with a rate below 1%: https://www.wealthprofessional.ca/news/industry-news/hsbc-shakes-up-homebuying-with-a-rate-below-1/336009 Monetary aggregates: https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/ Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice.
Category	Education
Tags	#Canadianrealestate \| #Canadianeconomy \| #Canadamortgagerates \| #Mortgagerenewals

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