Canada could raise home downpayments: housing agency head

Ottawa

CANADA should look at the possibility of raising minimum downpayments for homes to address concerns about high levels of debt in an era of low interest rates, the head of the country's housing agency said on Friday.

The Canadian government recently tightened mortgage rules. And late last year it increased downpayments on the portion of a home price above C$500,000 (S$528,000) for buyers who need government-insured mortgages.