The Canada Mortgage and Housing Corporation is buying up about $25 billion of mortgages to free up credit markets here, and hopefully that will lead to lower interest rates for us consumers.
That's all fair and good, but am I the only one who's just a tad cynical that Slim Jim ™ Flaherty announces this just four days before the election?!
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1 comment:
Rest assured, the downside for the CON government on this is termendous. They say all is fine, but they have spend $25 B to buy up mortgages to free up credit. What mortgages? Are they buying non-performing mortgages which help lower the risk to financial institutions? If so, why? There is much more to this, but on the public relations side it provides an incredible disconnect between what is being said and what is being done by the government.
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