Comments on: Canada’s Bank Regulator Is Targeting CLP Mortgages For Inflating Real Estate Prices

By: LT

LT — Tue, 15 Mar 2022 17:31:42 +0000

In reply to Noah. It's like you completely didn't read the article. The issue isn't supply and demand, but pseudo socialist institutions stimulating demand with non-credit market stimulus to entice people to buy even more or risk never buying.

By: Credit Guy

Credit Guy — Tue, 15 Mar 2022 17:30:37 +0000

In reply to Marko. They never say a HELOC can be 80%, they say a HELOC and mortgage can combine to a maximum of 80%, as per the Superintendent of OSFI's statement. Lenders are being advised not to give CLPs for more than 65% of the LTV.

By: JJ

JJ — Fri, 11 Mar 2022 17:32:41 +0000

In reply to Ron Bruce. Well said. I had high hopes for this country. All it is attracting now is dirty money, poor talent and freeloaders.

By: Noah

Noah — Fri, 11 Mar 2022 16:02:56 +0000

The basic issue here is supply and demand , if the government didn’t balance the number nothing will change, how? limit the immigration number, deal with speculation and foreign investors, flipping houses ,tax people with more than one home with higher rate.. And raise the interest rate.
simple as that.

By: Marko

Marko — Fri, 11 Mar 2022 04:13:12 +0000

The guideline states that the HELOC segment can have a maximum loan to value of 65%. If the borrower wants 80%, the additional 15% must be carried as a mortgage segment. The story indicated a maximum LTV of 65% for combined HELOC and mortgage segment, which is incorrect.

By: Ron Bruce

Ron Bruce — Thu, 10 Mar 2022 22:43:09 +0000

HELOC and CLP sound like a Donald Trump Ponzi scheme where you evaluate a property higher than it can be sold for. As much as property owners, banks become speculators with more money created out of thin air. If only Canadians invested in innovation, technology and manufacturing instead of money/investments sitting idle in a home/property, we would all be working and competing on the Global stage. Canada has become a speculator’s paradise, including off-shore investors.