In response to increasing concerns over climate change and its impact on the housing market, the Desjardins Group, a prominent Quebec-based lender, has made the decision to cease issuing mortgages in high-risk flood areas. This move has sparked fears among industry experts that similar measures may soon be implemented in the United States, as lenders worldwide grapple with the growing threat of natural disasters and climate-related risks.
Key points:
– Desjardins Group, a Quebec-based lender, has stopped issuing mortgages in high-risk flood areas
– Decision reflects growing concerns over climate change and its impact on the housing market
– Industry experts fear that this move may signal a broader trend in the mortgage industry
– U.S. lenders may also consider implementing similar measures to mitigate climate-related risks in the future.
You can read this full article at: https://www.housingwire.com/articles/canadian-mortgage-lender-rolls-back-activities-in-flood-prone-zones/(subscription required)
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