Mr. Speaker, we constantly monitor the housing market to ensure its ongoing stability.
That is why we took prudent action to strengthen the housing market by reducing the maximum mortgage period to 25 years on government-insured mortgages, lowering the maximum amount lenders can provide when refinancing mortgages to 80%, withdrawing taxpayer backing on home equity lines of credit provided by lenders, and reducing risk for taxpayers by limiting the use of portfolio insurance.