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Oct

04

Canada Housing Stocks Fall on New Government Mortgage Rules

By Tony Seruga

Genworth, First National, Equitable Group lead declines
Canada housing measures aimed at cooling red-hot market

Canada’s mortgage lenders and the largest private insurer plunged amid concerns that new measures by the federal government to cool the housing market will hurt their businesses.

Genworth MI Canada Inc. led the declines, with an 8.7 percent drop at the close in Toronto on Tuesday, its biggest drop since July 2009. The Toronto-based mortgage insurer said more than a third of insured mortgage borrowers would struggle to meet the new standards introduced Monday…

Canada Housing Stocks Fall on New Government Mortgage Rules

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