Canada PM doesn't see U.S.-scale mortgage crisis

Sun Sep 7, 2008 9:22am EDT
 
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OTTAWA, Sept 7 (Reuters) - Canadian Prime Minister Stephen Harper said on Sunday he did not think the country would be hit by a mortgage crisis of the kind that is afflicting the United States.

"In Canada the financial positions of our governments, of our financial institutions and of our households sectors are very strong," Harper told a news conference when asked about a likely U.S. plan for a federal takeover of mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N).

"Obviously we are concerned by economic weakness in our export markets ... while we see some slowing of the housing market I don't think we're going to see any kind of mortgage crisis like we have in the United States," he said. (Reporting by David Ljunggren; Editing by Bill Trott)

 

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