Blog Article

Friday, 15 December 2017

By Shawn Stillman

Shawn Stillman Quoted on The Financial Post – Canada’s housing risks haven’t gone away — they’ve just moved to the shadows

https://financialpost.com/real-estate/risk-shifts-to-shadows-in-canadas-whac-a-mole-housing-market

Despite the expectation that MICs will see more business, McKitrick said the big financial institutions will adapt to new regulations to keep lending. Shawn Stillman, a mortgage broker at Mortgage Outlet Inc., said banks could lower their mortgage rates so homebuyers would still qualify under the new stress-test rules.

“The bank doesn’t care because they’re still going to make their fees and get their money,” Stillman said by phone from Toronto.