Well, it looks like the government finally is making some efforts in eliminating some of the really bad lending practices that the consumer have been dealing with. For example, they have eliminated the kind of lending that says that it’s ok give a home loan to someone who obviously can’t pay it back and could only pay it back if the house increases in value. That’s a good rule change.
Another change that lenders can no longer larger commissions to broker who get consumers to pay a higher rate. In other words, no matter the interest rates, brokers will earn the same. This should really do a lot to curb the advertising for loans.
We will see how this all works out soon enough.