The challenges for Canada’s homebuyers will be the focus when mortgage professionals meet with officials in Ottawa this week.
Mortgage Professionals Canada will be making the case for changes to federal mortgage eligibility and financing laws and their impact on Canadians and the economy.
“Canadians, especially younger and new Canadians, have found it increasingly difficult to buy a home as a result of recent federal regulations,” said Paul Taylor, President and CEO of MPC. “As we continue to say, the current regulatory framework is decreasing competition and increasing costs, and ultimately reducing accessibility for consumers.”
MPC advocates will be providing officials with industry knowledge on how a path can be created to help first-time buyers and others struggling with the cost of homebuying.
“We ask that the federal government listen to Canadians, and read the research illustrating how current regulations are preventing many Canadians from achieving their dream of homeownership,” said Claude Girard, MPC Board Member. “We agree on the first steps to fixing housing access in Canada: adjust the stress test to an appropriate level and allow the mortgage industry to offer more accessible products, in order to help those who want to become homeowners achieve their Canadian dream.”
We and a number of dedicated industry volunteers are in Parliament Hill today for #MPCHillDay2019, discussing with MPs and other government officials critical issues that are affecting homebuyers across the country pic.twitter.com/DmjzqlebAh— Mortgage Professionals Canada (@MortgageProsCan) May 27, 2019