Finance official questions link between cooling housing market, mortgage rules

BILL CURRY

Ottawa — The Globe and Mail

Published Monday, Oct. 29 2012, 5:57 PM EDT

Canada’s deputy minister of finance says he isn’t convinced tighter mortgage rules his department announced in June are behind the recent cooling in the housing market.

In a rare public speech, Michael Horgan argued that recent comments linking the two are premature.

“There’s some evidence that the housing market, particularly in some markets, is cooling and slowing at the moment,” he said Monday during a presentation to business students at Carleton University. “We read a lot of press commentary that’s saying it’s because of the government’s changes to mortgage insurance rules. I think it’s actually too early to make the direct link.”

Mr. Flaherty was asked about his deputy minister’s comments.
“I’d certainly agree that the full impact [of the changes to mortgage rules] has not been felt yet,” said the Minister.
http://www.theglobeandmail.com/report-on-business/economy/economy-lab/finance-official-questions-link-between-cooling-housing-market-mortgage-rules/article4741736/

GF：一两年后回头来看，大温房市现在所见的跌幅只是冰山的一角。