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Oliver Says Canada Won’t Make Major House Finance Changes

Canada won’t make any sudden changes to the country’s system of housing finance, even as the government looks at ways to reduce its role in the market, Finance Minister Joe Oliver said.

Oliver said that while he’s studying proposals, such as the idea of the government passing on more risk to lenders, these are longer-term issues that don’t require immediate action. The government guarantees about C$710 billion ($648 billion) worth of Canadian mortgages through state-run Canada Mortgage & Housing Corp. and private mortgage insurers.