Canada has no plans for now to further cool housing

By Alastair Sharp

TORONTO (Reuters) – Canada is not considering further action to rein in the housing market at this time, the country’s finance minister said on Friday, even as he underscored that he will remain focused on ensuring that lenders behave prudently.

Earlier this month, the government tightened mortgage rules and closed a loophole on home sales, the second time it has acted in the last year to cool a market that some fear has become too hot.

“We will continue to be vigilant in monitoring the market,” Finance Minister Bill Morneau told reporters following a speech. “We have no further action under consideration in terms of housing.”

Morneau said it was too soon to judge the impact of the most recent changes on the housing market, but added that the government was monitoring the response. Some economists have suggested the tighter rules could dampen housing activity and weigh …
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