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Mortgage Broker News | 10 Jun 2010, 12:02 AM Agree 0
The superior practices of Canada's mortgage market should be imitated by the U.S., blogged Wall Street Journal mortgage and real estate reporter James R. Hagerty. At a U.S. housing-policy conference this week, Bank of Canada researcher Virginie Tract received "one of the biggest rounds of applause" by simply describing how the Canadian mortgage market works. She, however, declined to say if Canada does have a better system than the U.S, wrote Hagerty.
  • Layth Matthews | 11 Jun 2010, 03:56 AM Agree 0
    My first thought was that we were saved by just being slow to the sub-prime party. But ney, we do give creditors more recourse around here, which results in a less reckless housing market.
  • Layth Matthews | 11 Jun 2010, 03:58 AM Agree 0
    Oops. What I was going to say is that what really needs to be regulated harder is:
  • Layth Matthews | 11 Jun 2010, 04:05 AM Agree 0
    What really needs much more regulatory scrutiny is revolving consumer credit. It is a new form of enslavement. Mortgage brokers are in a unique position to witness this. The banks would never want to undercut it, but I think term loans with regulated ceilings on fees and rates are the better alternative. What we really need is a new culture of savings. The government had the right idea with the new TFSPs. That was huge.
  • Layth Matthews | 11 Jun 2010, 04:09 AM Agree 0
    Interest on mortgage debts (the personal portion) is not tax deductible in Canada. That is another reason why our mortgage market is not quite so overextended.
  • Tom MacDonald | 03 Aug 2010, 01:44 PM Agree 0
    [i]"as of March, 0.44% of Canadian mortgage borrowers were three months or more past due on their loans. In the U.S., the rate was 9.5%." [/i]

    Very telling statistic. Canada has always been tighter in regulating mortgages but they tightened up even more after seeing what is happening to our neighbours down south.
  • Canada Mortgage Broker | 31 Mar 2011, 09:58 PM Agree 0
    In Canada, mortgage rates are set by the major financial institutions, in a "follow-the-leader" manner, with one of them, usually a major bank, taking the "leader" role. All major financial institutions earn a large part of their income on the "spread", which is the difference between loans/ mortgage rates they charge to borrowers and the rates they pay to depositors/ investors for an equivalent term.
    The Government of Canada finance their activities and accumulated deficits, by issuing "bonds". In the US they are known as "Treasuries" and in the UK "Gilts".
  • download | 03 Apr 2011, 08:07 AM Agree 0
    Hat jemand ne Idee wie umfassend das verallgemeinerbar ist?
  • book of ra download | 04 Apr 2011, 12:06 PM Agree 0
    Im Grunde genommen ist dies ne praktische Sache, ich ├╝berlege mir nur, ob dies auch auf Dauer realistisch brauchbar ist!
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