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âSound residential mortgage underwriting is always important for the safety and stability of financial institutions,â Jeremy Rudin, head of the Ottawa-based agency, said in a statement. âToday it is more important than ever.â
The move comes amid a surge in housing prices thatâs raising concern among policy makers and economists. Cheap mortgages and new remote-working conditions have spurred a frenzy of demand for more spacious homes, with house hunters bidding up prices across the country.
Regulator proposes new minimum qualifying rate for uninsured mortgages in Canada yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
The Bank Act, 1871, was not the pillar of stability Canadians think; it was a political fraud
Author of the article: John Turley-Ewart, Special to Financial Post
Publishing date: Apr 09, 2021 • 4 hours ago • 4 minute read • A bird s-eye view of Parliament Hill and Upper Town in Ottawa in this 1903 photograph. Today, Canadians have only known the stable banking system that resulted from government bank inspection and the policing of Bank Act provisions starting in 1925, writes John Turley-Ewart. Photo by City of Ottawa Archives
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Next Wednesday, April 14, marks the 150th anniversary of royal assent to Canada’s first Bank Act, legislation that set the country on a path to our present banking system, one routinely lauded for its stability. Before bankers and others raise a glass to this monumental legislation, however, consider this fact: The Bank Act, 1871, was a political fraud.
Low rates leave policymakers with tough choices as pandemic housing boom rages gananoquereporter.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gananoquereporter.com Daily Mail and Mail on Sunday newspapers.
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