Finance Minister Bill Morneau denied reports that his government is planning new regulations aimed at private mortgage lending.

Canadians owe an estimated total of $1.55 trillion on mortgages in 2018, according to Mortgage Professionals Canada.

About 6.03 million Canadian homeowners had mortgages at the end of 2018.

It is estimated that private lending accounts for about 10 percent of the country’s $1.5 trillion mortgage market.