Jun 19, 2023
By Kathy Hyde
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.