The chief executive of Alberta provincial lender ATB Financial has joined the chorus of voices calling for a review of the B-20 mortgage guidelines.
Specifically, Curtis Stange says that the government should look again at the requirements of the stress test for mortgage borrowers, which he says are preventing some Canadians from becoming homeowners.
Speaking to Bloomberg BNN, Mr Stange said that the combination of the mortgage stress test and higher interest rates are making it difficult for some potential buyers.
The ATB leader also spoke about the housing market in Alberta and said that the impact of the oil industry price slump is still evident.
Across the national market, Mr Stange said that conditions have changed in the years since the updated B-20 mortgage guidelines were decided on and then introduced.
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
