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:
- 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.
- Eliminate the stress test on mortgage transfers, switches and renewals to help Canadians find the financing solutions that best fit their needs and budget.
- 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.
- Grant a digital income verification tool to the mortgage industry to help crack down on fraud.