Mortgage rules take wind out of house sales
Changes to mortgage regulations that took effect in April, 2011, likely sidelined a number of first-time home buyers,”I seriously did not expect to smell this kind of fear-sweat this early in Canada.
The association said comparisons with April, 2010, are difficult because of “several transitory factors artificially boosting sales” in that month.
“This included the impending tightening of mortgage rules, speculation about higher interest rates and the looming introduction of the HST in some provinces.
Boys and girls, I think we better go back up to the box and wait for the film from the photo finish.