The events of 2015 were another reminder that the mortgage market never stops evolving, especially when it comes to policy-making. CMT’s Top 5 stories of last year (listed below) told part of that tale.
Long-term effect: Only minor housing policy changes for the foreseeable future.
The first three events will make life slightly more challenging for brokers in 2016, but not enough to complain about. If the economy and oil don’t rebound, however, the bigger challenge (for mortgage volumes) may potentially come from wider mortgage funding spreads, growing debt loads, higher unemployment and higher arrears.
Admittedly, that’s a somewhat dreary forecast. In weather terms, it’s like expecting light rain. But we’re hoping for sun.