The Globe and Mail reports in its Wednesday, Jan. 29, edition that alternative mortgage lending jumped in the spring of last year, according to Statistics Canada, as the country's housing market started to rebound after a slowdown caused by stricter mortgage rules and rising interest rates. The Globe's Rachelle Younglai writes that mortgages from credit unions, private lenders, mortgage investment companies and other alternative lenders increased 25 per cent to $41-billion in the second quarter of 2019, compared with the first quarter, according to Statscan's survey of non-bank mortgage lenders. The growth coincided with the spring season, typically a busier time for home sales. It also occurred as the country's real estate market started recovering after the downturn in 2018, when the government's tougher mortgage rules came into effect and the Bank of Canada raised interest rates three times. In February, 2019, home buying across the country reached its lowest level in years. Sales started picking up in March and accelerated over the latter half of last year. The average value of a non-bank mortgage fell 7 per cent to $246,802 in the second quarter from the previous period.