http://www.theglobeandmail.com/report-on-business/economy/housing/after-decades-of-stoking-mortgages-ottawa-in-a-mess-of-its-own-making/article13705668/
"It’s getting hard to keep track of how many times the federal government has tried to lasso the galloping housing market.
The latest is a move by Canada Mortgage and Housing Corp., a federal Crown corporation, to limit the guarantees it offers banks on their mortgage-backed securities."
"The federal government has had a major role in stoking the rapid expansion of mortgage credit in Canada. Now, as the long credit-fuelled rush into real estate appears to be stalling, taxpayers could be stuck with a large and unexpected bill.
Three-quarters of all Canadian mortgages are insured by the federal government, up from only 30 per cent in 1988. Ottawa guarantees a total of $900-billion worth of mortgage insurance."
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