Weekly Poll: What do you believe will be the impact of the new mortgage requirements on Housing Market demand?

The Finance Minister, Jim Flaherty, announced this week that home buyers who want insured high-ratio mortgages will need to meet tougher requirements.  Some of the proposed changes include:

* As of April 19, buyers will be required to meet the standards for a five-year fixed-rate mortgage, even if they are looking for a variable-rate mortgage.
* Maximum amount that can be withdrawn for a mortgage to be lowered to 90 percent from 95 percent.
* A 20 percent minimum down payment will be required for government-backed mortgage insurance on non-owner-occupied properties.

What impact do you believe these measures will have in slowing the NEW HOME construction market during 2010.

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LAST WEEKS QUESTION and SURVEY FEEDBACK.

Last week we asked:

How much extra are your customers willing to pay for "Green" building products?

Here is what you said:

Would NOT pay more:  55%
Would pay up to 5% more:  18%
Would pay up to 10% more:  25%
Would pay up to 15% more:  2%
Would pay over 20% more:  0%

Thank you for your participation in our Feedback Friday surveys.

Find Out More:

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