So some massive changes coming in the mortgage industry, and Ottowa dropped a bombshell today, and that was that people that are putting 20% down on a house are going to have to qualify at a higher rate than they did previously. What does that mean for you guys, the consumer? It means the same house you qualify for today, as of January, you're going to have to earn 20% more income to qualify for that same house. You know, if you've been watching our series, we've been predicting that mortgage rates are going to continue to climb, they're now saying they are going to be up to about the 5% range if things go the way that they're going, but this is the biggest change we've seen in the mortgage industry in a number of years, and kinda scary. I know some of the banks are concerned that this is going to push consumers to go to tertiary or secondary lenders, and unsecure lenders which, who knows what that's going to do? And, they also don't know how it's going affect credit unions, who are governed provincially, versus federally. It is massive news, if you have any questions, give us a show, we'll hook you up with a mortgage person that can definitely guide you, and we'll keep an eye on this story for you guys.
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