Canada’s housing agency says extending mortgage amortizations and changing the threshold to qualify for an insured mortgage are NOT the answer to housing affordability.

 

Canada Mortgage and Housing Corporation C-E-O Romy Bowers says in a tight housing market, “increasing the length of your mortgage is not a quick fix and in the long run will likely cause more problems.”

She’d like to see the country focus on boosting supply, which Canada has been short of for years.