Affordability in the Canadian housing market needs to be tackled and the Canada Mortgage & Housing Corporation’s president acknowledges his role in helping to do that. Speaking to a Montreal trade delegation Evan Siddall said that the housing sector can provide stability to the wider economy but also add to its instability. “In Canada, affordability is key to financial stability. While the majority of Canadians are well housed, there are still too many that are struggling to meet their housing needs. CMHC has a responsibility to make use of government authorized programs to reduce core housing need for all Canadians,” he said. Siddall gave reassurance that CMHC is working diligently to identify and fill the gaps in housing data.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: