TORONTO, Dec. 15, 2016 /CNW/ - Mortgage Professionals Canada said today it strongly supports British Columbia Premier Christy Clark's decision to offer first-time homebuyers interest-free loans for their down payment. This timely support is extremely important given the recent changes that the federal government has made to mortgage insurance and eligibility, which will disproportionally impact people buying their first home. It is a recognition that the Premier understands the importance that first-time homebuyers play in the marketplace and the positive impact they have on the economy.
"This single action by the Clark government will ensure that tens of thousands of middle class British Columbians will be able to move from renters to homeowners," said Paul Taylor, President of Mortgage Professionals Canada. "It also means that BC will be able to create more jobs through increased housing activity which will support economic growth for all British Columbians."
The targeted approach that the government has taken to ensure that this support goes to middle and low income first-time homebuyers is the right way to support middle-class growth in the province. Mortgage Professionals Canada is pleased that the government is listening to the concerns of our members regarding housing affordability in the province.
Mortgage Professionals Canada is the national voice of the mortgage industry, an association whose members include mortgage brokers, mortgage lenders, mortgage insurers and industry service providers. Mortgage Professionals Canada has approximately 11,500 individual members across Canada including more than 1,500 members in British Columbia.
SOURCE Mortgage Professionals Canada
For further information: Paul Taylor, President and CEO, Mortgage Professionals Canada, O: 416-644-5465, C: 905-334-1165, ptaylor@MortgageProsCan.ca