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payday advance No kisses. No hugs. No I love you’s.. Share Share this Story: Possible Vancouver housing market corrections a concern, says Scotiabank CEO Copy Link Email Facebook Twitter Reddit Pinterest LinkedIn TumblrNews Local News COVID 19 Politics National COVID 19 Crime World Education Staff Blogs Weather Podcasts BC Public Sector Salaries Database Archives Hot Topics Business Local Business Open during COVID Featured Businesses Energy Mortgages Real Estate Commercial Real Estate Economy Next Technology Gaming Internet Personal Tech Retail FP Markets Small Business BC Top Employers Opinion Columnists Letters Op Ed Sports Hockey Vancouver Canucks NHL Football BC Lions CFL NFL Soccer Vancouver Whitecaps MLS International Baseball Basketball NBA NCAA Golf Golf Videos MMA Curling Tennis Auto Racing Arts Local Arts Celebrity Movies Movie Listings Television TV Listings Music Theatre Festivals Books Life Shopping Essentials Food Local Food Reviews Recipes Wine Country Salut! Health Local Health Diet Fitness Family Child Men Women Seniors Sexual Health Fashion Beauty Parenting Relationships Royals Puzzles New York Times Crossword Comics Advice Horoscopes Contests National Contests Homes Buying Selling Westcoast Homes and Design Current Issue Condos Decorating Gardening Renovating Out of Town Properties Travel Local Travel International Travel Obituaries Place an Obituary Place an In Memoriam Classifieds Place an Ad Celebrations Real Estate Marketplace Local Directory This Week’s Flyers Jobs Auction Driving All Driving News Reviews Car Comparison Buyer’s Guide Healthing The GrowthOp Videos ePaper Our Offers My Account FAQShare this Story: Possible Vancouver housing market corrections a concern, says Scotiabank CEO Copy Link Email Facebook Twitter Reddit Pinterest LinkedIn TumblrBreadcrumb Trail Links Real Estate Local News Local Business Possible Vancouver housing market corrections a concern, says Scotiabank CEO The CEO of Scotiabank says he’s concerned about the possibility of a housing market correction in Toronto and Vancouver. Photo by Jonathan Hayward /THE CANADIAN PRESS Article content TORONTO The CEO of Scotiabank says he’s concerned about the possibility of a housing market correction in Vancouver and Toronto.Brian Porter, who was asked about his outlook for the Canadian mortgage market during a conference call to discuss the bank’s first quarter results, said he’s supportive of recent government changes introduced to reel in house price growth.”Trees don’t grow to the sky and markets will correct at some stage here,” Porter told analysts Tuesday after the bank reported net income of $1.49 billion during the first quarter of the year.Ottawa introduced a series of changes to mortgage rules last October, including one that requires all insured mortgages undergo a stress test to make sure that borrowers would still be able to repay their loans if interest rates rise or their circumstances change.Previously, stress tests were not necessary for fixed rate mortgages longer than five years.”I think we’re going to need some time to see those take hold, and we will see that through the spring mortgage season,” Porter said.Porter highlighted the bank’s “very conservative mortgage book,” saying more than half of its portfolio of mortgage loans is insured.”So really the message is we’re governing ourselves accordingly,” he added.Scotiabank chief financial officer Sean McGuckin said that if prices continue to grow, more government intervention may be useful.”I wish I had a crystal ball. I just don’t have one in terms of where prices will go,” McGuckin said in an interview.This advertisement has not loaded yet, but your article continues below.Share this article in your social network Share this Story: Possible Vancouver housing market corrections a concern, says Scotiabank CEO Copy Link Email Facebook Twitter Reddit Pinterest LinkedIn Tumblr Headline News Sign up to receive daily headline news from the, a division of Postmedia Network Inc.Email Address There was an error, please provide a valid email address.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc payday advance..

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