Understanding the Differences Between The Canadian and U.S. Mortgage Markets
This morning my broker emailed me an article from a Scotia Bank newsletter. The title of the article is "Canada's Mortgage Market is NOT like the U.S." and I found it very interesting to see the fundamental differences in our Canadian mortgage market vs. the U.S. They authors break down the differences into four categories which are:
Debt Growth Over the Full Cycle
Leverage - night and day comparisons
Canadian mortgage markets are fundamentally healthier
Canadian mortgages are funded, underwritten, and enforced differently
There are several points under each topic and I found it quite interesting to see these differences spelled out here. I think many, and probably most, Canadians don't understand just how different the Canadian mortgage market is.
The article appears to no longer be available online. It is from Scotia's Weekly Trends report and they replace it as they publish the new one (silly old banks). My copy is an ugly scanned photocopy but I have uploaded it for your reading enjoyment.
Now this may not be our problem, but a recession, that is another blog post.
Matthew Collinge: Vancouver REALTOR®
