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Morneau tightens mortgage requirements, Liberal MPs concerned new rules will shut out first-time homebuyers 

By Abbas Rana      

Finance Minister Bill Morneau should have consulted the Liberal caucus before tightening rules, say Liberal MPs.

Finance Minister Bill Morneau, pictured recently in his department office in Ottawa. The Hill Times photograph by Sam Garcia

Liberal MPs are concerned sweeping mortgage rule changes introduced by Finance Minister Bill Morneau recently will exclude a significant number of first-time homebuyers from entering the housing market and are wondering why he didn't consult the national Liberal caucus or the House Finance Committee prior to making the announcement intended to cool down the overheated housing market in major urban centres. “A lot of mortgage brokers realtors and those who want to enter the market as first-time homeowners, they have concerns,” said

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