16 May 2013

Canadian finance minister upset with mortgage situation

Annik Faucher, the spokeswoman at the Office of the Superintendent of Financial Institutions, recently announced that officials are reviewing whether or not uninsured mortgages of over 25 years within the country will pose a risk in Canada's housing market. According to the Balance Sheet, the topic has been criticized by Finance Minister Jim Flaherty after he reprimanded lenders for offering low mortgage rates at the same time he is trying to reduce consumer debt.

One of the reasons Flaherty might be upset is because he has tightened the country's mortgage insurance rules several times over the past few years in an attempt for consumers to take on less debt. If the banks continue to offer these types of mortgages, they might act as a deterrent to Flaherty's initiatives, according to the Globe and Mail. 

Individuals who have gone into debt over the past few years may have had to scale down on the size of their home or business. If this has been the case, it'd be wise to explore their options of renting a Toronto business storage space or a self storage space in their neighborhood until they get settled.

Jiffy offers businesses plenty of options for Toronto storage, whether one needs to store filing cabinets or office supplies. What's more, the company is currently holding a contest for a new iPad 3, which is a device that just about every business person could use to help improve productivity.

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