Canadian Finance
Minister Joe Oliver’s hands-off stance on mortgage rates is a mistake in an
overheated housing market, Sadiq Adatia, chief investment officer at Sun Life
Global Investments Inc., said. Canadian lenders including Bank of Nova Scotia
cut five- year fixed mortgage rates below 3% this spring. While Oliver said in
May he would “monitor the market closely,” similar moves last year by banks
elicited a rebuke from former Finance Minister Jim Flaherty. The low rates
didn’t last.
Full article –http://tinyurl.com/kvrxa4m
Reposted from the Financial Post by Steven Porter, Broker - RE/MAX Aboutowne Realty Corp.
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