Comments on: Canadian New Mortgage Lending Shrinks 19%, Lowest Level Since March 2020 https://betterdwelling.com/canadian-new-mortgage-lending-shrinks-19-lowest-level-since-march-2020/ Canada’s Fastest Growing Real Estate News Source Wed, 23 Feb 2022 18:12:45 +0000 hourly 1 By: Richard Allen https://betterdwelling.com/canadian-new-mortgage-lending-shrinks-19-lowest-level-since-march-2020/#comment-80666 Wed, 23 Feb 2022 18:12:45 +0000 https://betterdwelling.com/?p=19730#comment-80666 In reply to Agent bob.

I was going to suggest that. Could house prices be pushing new buyers out? maybe some of them are getting to the bank, sitting down, seeing what the monthly payment is, and Nope-ing on out of there?

]]> By: Agent bob https://betterdwelling.com/canadian-new-mortgage-lending-shrinks-19-lowest-level-since-march-2020/#comment-80643 Tue, 22 Feb 2022 20:20:48 +0000 https://betterdwelling.com/?p=19730#comment-80643 No surprise 1st time buyers mortgages fell by 42%; they can’t afford a home anymore.
No surprise buyers with at least 20% down also fell 12.2% ; a lot more of them can’t afford a home either.
Many money launderers and non- residents don’t require a mortgage and they are the main drivers of the unhealthy price increases and are buying up vast quantities of real estate.
The government has failed the Canadian people by not addressing these issues years ago.

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