Federal Matters 

Our Recommendations

Mortgage Professionals Canada is committed to improving housing affordability, strengthening Canada’s middle class, and bringing the dream of home ownership to life for Canadians across the country. We continue to advocate for the following recommendations: 

  1. Introduce a return to 30-year amortization periods for insured mortgages to allow greater opportunities for home ownership and to level the playing field for all homebuyers.
  2. Eliminate the stress test on mortgage transfers, switches and renewals to help Canadians find the financing solutions that best fit their needs and budget.
  3. Increase the insured mortgage cut off from $1 million to $1.25 million, and index it to inflation to better reflect today’s housing prices.
  4. Grant a digital income verification tool to the mortgage industry to help crack down on fraud.

In the News

Foreign Buyer Ban Changes

Following our persistent advocacy efforts to reflect the concerns and feedback from our members on the Prohibition on the Purchase of Residential Property by Non-Canadians, also known as the foreign buyer ban, we are pleased to share that the federal Minister of Housing has introduced four amendments.

MPC Commentary on Budget 2022

Reviewing some of the housing measures proposed in the 2022 Federal Budget

A Message to MPC Members on the 2021 Federal Election

MPC was very encouraged to see housing affordability take such a prominent place in the election, especially after our many discussions.

Enhancing Mortgage Fraud Prevention Through Canada Revenue Agency Income Verification

MPC penned a letter to MP Francesco Sorbara, Parliamentary Secretary to the Minister of National Revenue, summarizing our request and arguments.

Our Response to CMHC Mortgage Underwriting Criteria Update

Effective July 5, 2021, CMHC is returning to its pre-July 2020 underwriting practices for homeowner mortgage loan insurance.

CEO & President Paul Taylor Invited to Virtual Housing Panel

ICYMI: Highlights from MPC's experience at virtual housing panel.

Our Letter to OSFI

Letter to OSFI re Proposed change to B-20 uninsured mortgage minimum stress test level.

Reaction to Federal Budget 2021

Our top takeaways from the 2021 Federal Budget.

OSFI Proposes More Stringent Stress Test

OSFI reopens consultations on Guideline B20, proposes qualifying floor of 5.25%.

MPC's Lobbying Efforts Recognized by The Hill Times

Hill Week 2021 featured in "Pre-budget pitches, virtual ‘Hill days’ push February lobbying" article.

Annual State of the Residential Mortgage Market in Canada: 2020 Report Now Available

Today we proudly release the “Annual State of the Mortgage Market in Canada”, written by our Chief Economist Will Dunning.

Fifth "Rapidly Evolving Expectations in the Housing Market" Report Released

Tracking shifts in Canadians’ expectations about the housing market.