The federal government is considering more mortgage rules, but there’s still time to push back.

In line with CREA’s advocacy efforts, we encourage members to share their voice by signing up for the REALTOR^® Action Network call-to-action on Monday, Aug. 28.

Why your input is so important

The proposal would require lower-risk borrowers to be approved at two per cent above the rate offered to them by their lender. For example, if the contract rate offered is three per cent, lower-risk borrowers would have to qualify at five per cent. 

This measure could shut many consumers out of the market, drive them into less suitable housing or entice them to visit sub-prime lenders that are not federally regulated. 

CREA will be launching the call-to-action on the REALTOR^® Action Network on Monday, Aug. 28 and we encourage you to participate.  

By taking part in this call-to-action, each member can strengthen the collective voice and advocacy of REALTORS^® on Parliament Hill.

For more information on the new proposed mortgage measures, click here.