Contact Your MP Today
Dear MPC Members, and others who believe in the Canadian Dream of Homeownership
This month, the Globe and Mail said the following:
“Mortgage Professionals Canada, an industry association for mortgage brokers and lenders, has met with Liberal and Conservative MPs to lead the charge for relaxing the government’s mandated mortgage qualification stress test, arguing it is shutting too many buyers out of the market, particularly first-time buyers.”
We are grateful you support us by being members; now, Mortgage Professionals Canada needs your help as we, together, “lead the charge” before the Federal Budget next month, and the Federal Election in October.
Together, we can and must push for a March Federal Budget which reverses the harms imposed on Canada’s current and aspiring middle class.
Our main goals remains a lowering of the stress tests from 200 bps to 75 bps, and the removal of stress tests entirely from renewals where no new money or amortization period is being added. That said, the easiest Federal Budget remedy is for the Minister of Finance to return the 30 year amortization on insured mortgages, specifically for first time homebuyers. This would counter some of the slowdown the stress tests have caused across Canada, and allow them to become election issues of their own.
In 2012, at the Liberal Party’s Quebec retreat, members were told by Gerald Butts that the focus for the party had to be on, “the middle class and those working hard to join it.” Their decisions as of late suggest our government needs to be reminded of their past beliefs.
Whether Conservative, Liberal, NDP or Green, please Tell Your MP today s/he needs to do something *now* to help Canada’s slowing economy. Then, make sure you go meet your local candidates for election between now and the election this October. You can prepare for meetings with candidates by downloading our document, “Advice to Policymakers on How To Improve Housing Affordability For Canadians”.
Please feel free to share it, post it, and circulate it.
Also, feel free to send our Government Relations team your thoughts and advice at email@example.com.
Thank you, and please Tell Your MP you need them to act now:
President and CEO
Mortgage Professionals Canada