Thursday, July 17, 2008

MORTGAGE INSURERS PUSH TO KEEP ZERO-DOWN LOANS (National Post, 16 Jul 2008, Page P1)

I will be dealing with this issue in a special edition of my newsletter this weekend, but thought I would put this out there. While I may have missed it, I didn't notice any mention of this in the Globe or the Star.

MORTGAGE INSURERS PUSH TO KEEP ZERO-DOWN LOANS
BY GARRY MARR
National Post
16 Jul 2008

Private mortgage insurers are pushing for ways to keep no-money-down mortgages alive and are set to meet with Department of Finance officials in the next two weeks to discuss possible options, sources indicate. The move comes after Ottawa cracked down...read more...
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20% down makes savers of spenders (National Post, 17 Jul 2008, Page P7)

I will be blogging on the issues raised in this article in the next day or so, but thought it was worthwhile noting this article. Some frightening stats and quotes.

20% down makes savers of spenders
BY BOB IVRY Bloomberg News
National Post
17 Jul 2008

NEW YORK • The U.S. housing crisis may accomplish what years of parental hectoring couldn’t: Turn Americans from spenders into savers. Spending will fall because homeowners can no longer use rising real estate values to borrow cash — US$837.5-billion...read more...
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