gave a speech
In essence, his argument was that more different types of mortgages would spread out the risk of a debt crisis. If everyone has the same type of mortgage, everyone is susceptible to the same risks, so if something goes wrong. everyone's up the same creek without a paddle. More varied mortgages would mean any negative scenario would affect fewer people.Bank of Canada Governor Stephen Poloz speaks during a business luncheon in Montreal, Thurs. Feb. 21.
"Interest-only mortgages are generally harder to qualify for," McLister said in an email to HuffPost Canada."Unlike the irresponsible U.S. variety, pre-housing crash, Canadian do not increase your buying power."Few borrowers would benefit "Unlike the irresponsible U.S. variety, pre-housing crash, Canadian do not increase your buying power."For that reason, Poloz is urging"transparency" in mortgage bundling, which already goes on in Canada to a limited extent, backed by Canada Mortgage and Housing Corp. He wants to set up"
They do that here in South Korea buy it's only 1 year of interest payments. No biggie as long as you stay informed before you sign. It gives you a bit of a break to settle down, furnish your home, etc before the larger payments start.
They have been here for years, Manulife, I had one with them 15 years ago.