The change is appropriate, given that the proposed rules would have indeed sent an even greater percentage of buyers into the unregulated secondary mortgage market.

But, is anyone else surprised/concerned with the cavalier attitude of the federal regulator?  An attitude analogous to, "We understand the the consequence of what were doing which is to drive the public into riskier situations - but as long as it is not under our purview, we don't care."  Perhaps a more holistic view of the financial health of Canadians is required?