Key Points from MPC’s Spring Report + MORE Jul 2nd

Mortgage Professionals Canada released its spring report on mortgages and housing this week. More so than in previous reports, this one was opinion-heavy on the overall affordability and sustainability of housing. MPC’s Chief Economist Will Dunning has long held that mortgage rule tightening could trip up the economy, noting that “…the greatest risk to the housing market (and consequently to the broader economy) is not reckless consumers or lenders – it is needless policy changes.” That position has been well covered by the media so we won’t belabour it here. Instead, here are four other quotes that deserve attention — this author’s feedback is in italics. ******** “Our review of housing market READ MORE

CBC News spoke to mortgage experts to find out how to score the best mortgage possible. You could wind up saving thousands of dollars while avoiding some serious pitfalls.

Written by Wayne Karl

When Canadians return from celebrating the Canada Day long weekend, they can expect early July to be hot with discussion of potential changes in mortgage regulations and housing policy.

Again. Only this time, the changes could have some real teeth to them.

The table was set in June when federal Finance Minister Bill Morneau announced a joint federal, provincial and municipal working group to study the housing market.

“It’s important to understand that while the federal government has some levers it can pull, we don’t have all of them,” Morneau said in announcing a group of officials from the federal, Ontario and B.C. governments, and the cities of Vancouver and Toronto, would study the state of the Canadian housing market and provide policy recommendations.”

The group will meet throughout the summer months to review the broad range of factors that affect supply and demand for housing, the issue of affordability and stability in the housing market.

“The issues surrounding home ownership are a shared responsibility, with provincial governments and municipalities having the ability to act locally…