The Liberals served up their Fall Economic Statement (FES) yesterday and it's got multiple ramifications for mortgage borrowers and lenders. We've taken the liberty to grade our trusty rule makers on each of their mortgage-related moves. The result? A smattering of A's - impressive.

When Smith Financial bought out Home Capital, it necessitated that Home lose its precious NHA mortgage-backed securities (MBS) and Canada Mortgage Bond (CMB) allocations—i.e., the ability to fund its mortgages through MBS and CMBs. That was a crushing blow to Home's prime mortgage competitiveness. After all,

Credit unions are an afterthought for many Canadians. Yet, CUs are critical to the mortgage ecosystem because they compete in ways that banks don't.

Policymakers have waged a two-pronged attack on fixed-payment variable-rate mortgages. Last week, the BoC's Senior Deputy Governor Carolyn Rodgers came out swinging, telling Bloomberg: “I think you’ll see the industry reflect on how much they want to offer that product. It is concerning. You don’t want