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Canadian Mortgage Growth Slows Amid Government Housing Moves

By Tony Seruga

TD, BMO report home loan balances shrink from first quarter
RBC annual mortgage growth was weakest since start of 2015

Canadian mortgage growth is slowing as the country’s policy makers step up efforts to cool overheated housing markets in Vancouver and Toronto.

With four of Canada’s biggest banks reporting second-quarter results, the trend shows decelerating growth in home loan portfolios and, in some cases, shrinkage. It’s a welcome sign for officials struggling to curb house prices in two of the nation’s largest cities. The easing follows federal government moves in October to tighten mortgage insurance rules and other measures while opening the door to shift risks of defaulting mortgages to banks…

Canadian Mortgage Growth Slows Amid Government Housing Moves

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