Mortgage lending changes unwelcome in cool Ottawa market


New rules designed to cool hot housing markets in Toronto and Vancouver could send a chill through Ottawa's real estate sector, according to an Ottawa real estate expert.

Last week the Canada Mortgage and Housing Corp. put a cap on the amount of mortgage-backed securities sold by banks that it is willing to guarantee.

The rules come as markets such in Toronto and Vancouver continue to see home sales and prices rise despite predictions of a market correction.

Ottawa's housing market has been stable, and only recently started picking up in July.

Basharat Ali

Basharat Ali

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