Dan Eisner, founder and CEO of True North Mortgage, tells BNN why Ottawa's new mortgage rules are a shock to him.
Here is a summary of the winners and losers:
Loser: The biggest losers will be first-time Homebuyers
Winner: Financial stability of Canada's banking system and economy
Loser: Non-bank monoline lenders. For borrowers, there will be less choices, less competition.
Winner: Big banks, which have multiple funding sources.
Loser: Foreign homebuyers
Winner: Tax fairness
Winner: Canadian taxpayers
Losers: Canadian homebuyers, since mortgage rates will increase as lenders pass on higher funding costs.
Source: BNN
