The federal government is calling on banks, credit bureaus, landlords and financial technology firms to include rent payments in credit scores in a bid to help Canadians secure better mortgage rates. But officials say they won’t yet enforce the practice, and one critic expects the move will have little impact on affordability.
… It’s a move that David Hulchanski, a housing expert at the University of Toronto, sees as relatively toothless. Along with the voluntary nature of implementation, he noted that credit scores were less pervasive of a barrier to homeownership than the sheer cost of homes today compared with income levels.
