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WatchAndrew Scheer pledges longer mortgage terms end of stress test on renewals

VAUGHAN, Ont. — Conservative Leader Andrew Scheer laid out a plan this morning he says would make it cheaper for Canadians to buy homes, loosening rules put in place by the former Conservative government during the global financial crisis.Scheer pledged he’d return to allowing first-time homebuyers to take out 30-year mortgages to help lower monthly payments.“For millions of Canadians their home is the largest investment they will ever make,” Scheer said.[related_link s/]Beginning in 2008, the Harper Conservatives began reducing the maximum mortgage amortization rate for insured mortgages. They started by knocking it down from 40 to 35 years, and in 2011 reduced it to 30 years.Conservative finance minister Jim Flaherty reduced the maximum amortization period to 25 years the following year. He said at the time that while monthly payments would be higher, it would result in less interest and help people pay off their mortgages faster.The move at the time was meant to address the growing debt burden on Canadians. A major factor in the panic that locked up financial markets in the late 2000s was mortgages that owners couldn’t pay, on properties that were worth less than the loans taken out against them.When asked why a new Conservative government would now reverse course, Scheer responded the longer mortgage period would allow more people to buy homes. He added that “it is important that we have strong regulations around the financial sector.”Statistics Canada reported in August that the median mortgage debt of Canadian families that have them almost doubled between 1999 and 2016, rising from $91,900 to $180,000 in 2016 dollars.Scheer also promised to ease what’s known as the stress test on mortgages and remove it altogether from mortgage renewals. The test is meant to make sure people taking out mortgages could still afford the payments if interest rates were to rise.The Liberals brought in the policy last year and it has been criticized by the construction and real-estate industries. Both the Canadian Home Builders’ Association and the Canadian Real Estate Association welcomed Scheer’s promises Monday.A Conservative government would also make surplus federal real estate available for development to increase housing supply, and launch an inquiry into money laundering in the real estate sector, Scheer said.“Justin Trudeau has put the dream of home ownership further out of reach for so many, especially young Canadians,” Scheer said. “As prime minister, I will fix his bad policies and work to get more homes on the market to lower the price of housing.”Scheer is campaigning Monday in the Toronto-area suburb of Vaughan and then moves on to St. Catharines, Ont.King-Vaughn, which was a new riding in 2015, was won by Liberal Deb Schulte by just over 1,700 votes last election.Scheer said he is not concerned with polling that shows the Conservatives and Liberals neck and neck in key ridings despite recent controversies around photos and videos of Justin Trudeau wearing black- and brownface.“We’ve got campaigns all across the country where two or three years ago people were writing us off,” Scheer said.“We are going to win those seats.” read more

Rajant to unveil new BreadCrumb LX5 wireless mesh network

first_imgRajant Corporation has announced plans to unveil its new BreadCrumb LX5 Portable Wireless Mesh Network Node at the CIM 2014 Convention in Vancouver, taking place May 11-14 and being attended by IM. The Rajant BreadCrumb LX5 is the latest in a line of multi-radio nodes in the BreadCrumb family that, when paired with other Rajant products, “create a rugged and reliable mesh network” for mining operations.The LX5 supports the use of IEEE 802.11a/b/g/n protocols to enable data, voice and video applications through up to four radio modules and six external antenna ports employing any combination of the 900 MHz, 2.4 GHz, 4.9 GHz and 5 GHz frequency bands. Up to three radio modules in an LX5 can be configured for multiple input, multiple output (MIMO) use. The LX5 provides faster routing and gateway processing relative to Rajant’s previous models, and is designed to be backwards compatible with previous BreadCrumb models to ensure an easy migration path for current BreadCrumb users.“The BreadCrumb LX5 represents the next generation of Rajant’s rugged and reliable BreadCrumb family of wireless mesh nodes,” said Bob Schena, President and CEO of Rajant Corporation. “As with all nodes in the BreadCrumb LX series, the LX5 was designed to stand up to the rigours of environments found in the mining, military and oil & gas industries. It is necessary for all of our equipment to be rugged and reliable so that clients know that, even in the harshest environments, their communications networks will always be available.” Rajant’s patented InstaMesh software allows BreadCrumb wireless nodes to provide continuous and instantaneous routing of wireless and wired connections. InstaMesh technology is used in demanding operations to provide networking for voice and data communications, video feeds and remote monitoring.last_img read more