CIBC CEO Says Rules For Mortgage Are “Prudent”

CIBC very own chief executive of CIBC said that the latest mortgage regulation that has come into effect some weeks back seems to be sensible and will be able to have the housing system in Canada regulated and positively impact the real estate market.

In an economic forum that was held in Ottawa, Victor Dodig said to The Canadian Press that it’s a justifiable deed to have the construction sector and the real estate market afloat and flexible and also making sure that the mortgage lenders and banks are giving out loans cautiously.

Mr. Dodig said for those that will be buying homes for the first time as well as domestic homebuyers, he anticipated the alterations and adjustment to having a “relatively modest” effect, which he thinks will bring about lasting benefits.