Feb 20, 2019, 09:51 AM by Mortgage Professionals Canada

Valuable tool for members when meeting with election candidates.

We are pleased to provide a brief information package (Advice to Policymakers on How To Improve Housing Affordability for Canadians) regarding our position to federal election candidates regarding housing affordability, availability and accessibility - issues that will be front and centre during the election campaign. 

This document, to be used in your meetings with candidates, clearly outlines our list of recommendations to policymakers which include:

• decoupling the stress test rate from posted BoC rate
• implement exemptions to Guideline B-20
• increase amortization periods to 30 years
• allow refinances to be included in portfolio insurance
• implement indexation to inflation for mortgage insurance cap
• implement indexation to inflation of RRSP HBP
• implement policies to address risks
• implement strengthened NOA to combat mortgage fraud
• implement interest-free loans to municipalities to encourage increased supply