• Stricter OSFI rules on mortgage lending 'will do more harm than good': Fraser Institute

    Jencor Mortgage    |   

    Categories: Garry Marr , Lending , Mortgage , OSFI , The Financial post

    Fraser Institute doesn't believe the changes are necessary and says another key result could be a less competitive mortgage industry   Add another group to the growing list of organizations trying to convince the federal banking regulator to back down from its plan to tighten the reins on consumers borrowing with low ratio loans. The Fraser Institute said Wednesday the changes to consumers with 20 per cent down could make it harder for them to access mortgages, especially in higher-priced markets. Those buyers could turn to less regulated finance companies or perhaps turn to shorter, more volatile variable loans to meet qualification criteria. “The…