When asked by an audience member for his views on the prospect of extending amortization terms on CMHC-insured mortgages beyond 25 years, to 30 or even 50 years, Mr. Siddall, chief executive officer of Canada Mortgage and Housing Corp. responded bluntly: “If you extend amortization, you’re increasing demand and increasing debt. So, you know my answer: I think it’s dumb,” he said, adding, “Fifty years is dumber than 30.”
Reference: https://www.theglobeandmail.com/business/article-easing-the-mortgage-stress-test-would-increase-debt-bump-housing
No comments:
Post a Comment