Mortgage and Housing Market - Stay Informed

As tougher mortgage rules slow housing market, critics call for a reversal

Garry Marr | Financial Post Nov 26, 2012

The real estate industry has ramped up its attack on rules making it harder to borrow but its challenges face one big obstacle — mortgage restrictions are working exactly the way the federal government wants them to.

In the past week the Canadian Association of Accredited Mortgage Professionals weighed in with complaints that Ottawa’s restrictions were killing consumer confidence and even raised the stakes further by suggesting the entire Canadian economy was at stake.

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