Qualifying for a mortgage—I can speak from experience, having purchased a home and qualified for it, and even having done mortgages myself—requires a great amount of sacrifice, especially if you're putting down a 20% down payment.
Fortunately, we have vehicles such as insured mortgages. I think the government has made some very critical changes in that regard. We were one of the associations that pushed for an increase in the insured mortgage cap to $1.5 million and for 30-year amortizations. We would love to see 30-year amortizations across the board for insured borrowers. Those have had some very meaningful impacts and have hopefully helped some people enter the housing market who had been struggling to enter it. They've allowed them to put a lower down payment on the purchase of a home. In Ontario specifically, we're seeing that the HST relief has had a meaningful impact for borrowers.
We hope to see more of these policies coming forward. I think we are on the right track. Obviously, it takes some time for the true impact of all of these changes to be felt.