Mortgage Professionals Canada was not consulted prior to any of these specific changes being introduced.
Regarding the question of regionality and housing starts having stalled in Calgary, I am hearing very similar reports from the lenders within our community of the number of applications for new mortgages this January versus last January seeing startling drop-offs. First-time homebuyers are very specifically penalized by these changes. By virtue of there being a real lack of new entrants onto that property ladder, there is less need for new homes to be constructed, and certainly you're going to see those effects first in the regions that are currently economically challenged.