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30 Year Amortization

by Mortgage Professionals Canada | Feb 22, 2019
Read statement on reintroduction of 30-year ams on insured mortgages.

 

On February 20, we provided a statement on the recent announcement by Jagmeet Singh, leader of the New Democratic Party, to reintroduce 30-year amortizations to insured mortgages which was distributed via Canada News Wire. 

Our statement explains our role of helping grow the middle class and our concern about new mortgage stress tests which have exacerbated the current rising interest rate challenges and hindered the dreams of thousands of aspiring first-time homebuyers.

One of our top recommendations to policymakers is, "that qualified first-time homebuyers be provided access to mortgage amortization periods of up to 30 years for insured mortgages."