5 percent of Canadians take out non-conventional mortgages (interest-only, 100% financing, etc…). In the U.S. the number is 20%.
Could the U.S. housing bubble have anything to do with America’s penchant for higher risk mortgages with more buying power? We think so.
Furthermore, once non-conventional mortgages take hold in Canada (and they will), some think this same logic will apply here. The result? Many expect another bump up Canadian home prices.
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Last modified: November 24, 2006
