Fresh from their meeting with senior officials in Ottawa, the CAAMP leadership this week promised to continue lobbying the government during its pre-budget consultations.
“CAAMP will continue to represent the interest of its members as part of the federal government’s pre-budget consultation process and provide updates as they occur,” Jim Murphy, CAAMP president and CEO, said in an update released to the organizations members on Thursday.
Last week, CAAMP announced that its leadership was headed for Ottawa to present to government officials the organization’s annual report on the country’s residential mortgage market. The report indicates that a majority of Canadians are “comfortably” managing their debts and paying down their mortgages but also highlights concerns by the channel that the recent mortgage rule revamp has kept many first-time home buyers from the market and has cooled housing market activity.
The four-point bulletin sent to CAAMP members indicated that CAAMP Chair Daryl Harris, chief economist Will Dunning and Murphy met Wednesday with “senior government officials including Members of Parliament, representatives from OSFI, the Prime Minister’s Office and the Department of Finance.
“CAAMP presented the results of its fall research report – Annual State of the Residential Mortgage Market in Canada – and highlighted current issues facing the Canadian mortgage and housing industries,” the update released by Murphy said. “Discussion focused on the impact of recent regulatory changes and how they affect first-time buyers.”