Real estate boards across the country this month have reported significantly slower sales, and Flaherty acknowledged to reporters in Toronto yesterday that there’d been “some softening” in the Canadian real estate market, according to the Financial Post.
But he said there was no need to make further changes to the mortgage rules after they were tightened earlier this year.
Flaherty has already intervened three times with tougher mortgage rules in the past few years.
He made the remarks following Bloomberg’s Canada Economic Summit.
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