POLITICS

Vice-chief worried new mortgage rules could hurt aboriginals living off-reserve

07/11/2012 04:44 EDT | Updated 09/10/2012 05:12 EDT
EDMONTON - A spokesman for aboriginals who live off-reserve is worried they may never be able to own a home because of new federal mortgage rules.

Dwight Dorey, national vice-chief of the Congress of Aboriginal Peoples, says the availability of housing is already a key concern for natives in towns and cities.

He fears the new rules make it even more unlikely that low-income aboriginal families will ever be in a position to afford a new home.

The rules have shortened the paydown of a mortgage to 25 from 30 years and tight standards lenders must apply before granting a mortgage.

Dorey says his organization will study the issue.

He is on a tour of Western Canada this week.