OTTAWA — Bank of Canada governor Stephen Poloz says it’s time for fresh ideas when it comes to Canadians’ mortgage options.
More innovation would help boost flexibility for borrowers, lenders and investors, while also lowering risks in the financial system, Poloz said. In its spring budget, the federal government announced it would create shared-equity mortgages as a way to provide interest-free loans to help first-time home buyers add to their down payments. The plan, if implemented, would also encourage a lift in housing supply, Poloz said.Poloz said the plan would help make the financial system safer because mortgage risks would be shared between the borrower and the lender.
For borrowers, longer terms would mean they would have to deal with fewer renewals, reducing the risk that they will face higher interest rates. Policy-makers would also benefit from the increased stability related to fewer renewals.
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Stephen Poloz on taming the housing market and the dangers of a trade war - Macleans.caThe Bank of Canada governor talks to Paul Wells about the state of the economy and how central bankers work in the age of Trump.
Прочитайте больше »
Central bank dovishness means stocks have a reason to keep risingThe bar is low for an upside surprise to earnings forecasts and accordingly, equity prices. globeinvestor Yes, slowing growth is always good for stocks. 👌
Прочитайте больше »