Canadian banks & mortgage insurers are rallying against new government housing rules!!

Canadian banks & mortgage insurers are rallying against new government housing rules which they say say will lead to higher mortgage rates, hurt small real estate markets and drive borrowers toward unregulated lenders.The banks argue that Canadian mortgage defaults are so low that making lenders share the risk is unnecessary and not worth the costs.

All mortgages currently go through a “double-underwriting” process as it is, with both lenders and the insurer underwriting the loans for safety.

Adnan-Hashmi-Realtor