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Decentralized Democracy

House Hansard - 317

44th Parl. 1st Sess.
May 24, 2024 10:00AM
Context: House Hansard - 317 - May/24/24
Mr. Marty Morantz (Charleswood—St. James—Assiniboia—Headingley, CPC)
  • May/24/24 11:34:21 a.m.
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Mr. Speaker, also in 2020, the Prime Minister said, “Interest rates are at historic lows Glen.” Millions of people took out low-interest mortgages. Tuesday, his own bank regulators reported that homeowners renewing mortgages will now face a payment shock because of the high mortgage rates they got in 2020, increasing the risk of default. After nine years of the NDP-Liberal Prime Minister misleading Canadians, will he finally admit he is not worth the cost to people who are losing their homes?
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Context: House Hansard - 317 - May/24/24
Mr. Tom Kmiec (Calgary Shepard, CPC)
  • May/24/24 11:35:39 a.m.
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Mr. Speaker, after nine years of the NDP-Liberal Prime Minister, more Canadians are now going hungry and homeless. The latest annual risk outlook from OSFI highlights that 76% of mortgages will come up for renewal by the end of 2026. Now, the Prime Minister's high mortgage rates are creating misery for Canadian homeowners. Again, the Liberal government's own bank regulators are flashing red stop signs. The Bank of Canada governor has said that out-of-control federal spending is not helpful. How much more mortgage payment pain will Canadian families have to face and endure to satisfy the NDP-Liberal government's big government spending?
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Context: House Hansard - 317 - May/24/24
Mr. Tom Kmiec (Calgary Shepard, CPC)
  • May/24/24 11:36:53 a.m.
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Mr. Speaker, that overheated and over-the-top rhetoric is cold comfort to homeowners who are facing hundreds of dollars per month of increased mortgage costs because of the Liberal government's decisions during the pandemic. The Liberals doubled the national debt and increased spending by $600 billion over that time period, which led to higher mortgage interest costs at the same time that the Prime Minister was saying that interest rates would never go up, that they were so low and they would continue. Mortgage holders listened to the Prime Minister. They took out more mortgages and now they are facing higher mortgage rates, rates so punishing they will have a hard time paying. When is the NDP-Liberal Prime Minister going to learn his lesson? Is he going to give homeowners a break on these mortgage rates?
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