Feds unlock another $20 billion for low-cost rental construction financing: Freeland

The federal government is unlocking another $20 billion in low-cost financing for the construction of rental housing across Canada, Finance Minister Chrystia Freeland announced Tuesday.

The Canada Mortgage Bonds program, which raises funds for residential mortgage financing, had an annual limit of $40 billion.

The limit is being increased to $60 billion, which the federal government says will increase rental construction by 30,000 units annually.

"There is no fiscal impact for the government of Canada as a result of this measure. This is fiscally responsible policy using policy tools at our disposal," Freeland told reporters Tuesday in Ottawa.