The Ontario Real Estate Association is calling for less stringent mortgage rules, in a rebuttal aimed at the head of the Canada Mortgage and Housing Corp.
The association's chief executive says in a letter to federal policy-makers that Ottawa should consider restoring 30-year insured mortgages, among other changes.
Tim Hudak says the more stringent rules, brought in to cool an overheated housing market, are making it harder for first-time buyers to enter the market.
It follows comments made by C-M-H-C president CEO Evan Siddall, who has warned of ``potentially tragic consequences'' from relaxing the rules.