What the new mortgage rules mean for new (and existing) home buyers | The Big Story
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- Опубліковано 30 вер 2024
- The federal government has announced changes to mortgage amortizations and insurance rules, calling them “the most significant mortgage reforms in decades.” But what do these changes really mean for new home buyers? And existing ones? Will they help with the affordability crisis, or focus more on accessibility?
Episode link: play.headliner...
Build more homes?
No.
Longer mortgages with more debt. 👍
@@WinstonSmithRoom101 da heeebs?
😮 - What a snake oil salesperson.
⚠️ - CMHC is insuring the bank, not the homeowner. Buyer beware not to sign yourself up for a lifetime of servitude.
FYI, half of your down payment disappears immediately to pay the CMHC fee.
This "podcast" is trash.
Refinancing homes every few years is horrible. That's why no one could own a home here.
This only helps home builders and insurance providers, not done to reduce the prices of homes which will not be done because RE is the largest sector in the country. Homes are still affordable outside of GTA, Lower Mainland BC and Calgary. The only issue is job vacancies in those areas. You could practically get a very cheap house in Winnipeg or Brandon for example but you need a job or small business to support yourself.
nope, the country can collapse
It means you will pay more & be in debt longer
More debt, banks are all for it.