As tougher mortgage rules slow housing market, critics call for a reversal

The Canadian Association of Accredited Mortgage Professionals complained the consumer confidence and the entire Canadian economy were at stake, but why? The federal government had tightened the restrictions and mortgage rules when sales in October saw a severe drop in their long-term average. Among these changes is a change in the allowable amortization from 30 to 25 years. Will the affect the market even further? This article will tell you what the some effects are and what the government is thinking now. Read the full article here:  http://business.financialpost.com/2012/11/26/as-tougher-mortgage-rules-slow-housing-market-critics-call-for-a-reversal