Recently the NDP leadership announced that they would push for a 30 year amortization period for high ratio mortgages, if elected.
Is this a good thing?
I’m not sure if you recall, but there used to be 40 year mortgages back before 2008. Post the financial crisis, banks really tightened their lending criteria in an effort to keep Canadians from feeling the full weight of the mortgage industry collapse.. and for the most part, it worked.
Just how much will this affect Canadian’s ability to enter the housing market?
This is exactly what we’re talking about on today’s episode of the “Investment Property Income” podcast. It’s certainly time we explore the idea, but what difference would it actually make?
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