Wednesday, September 24, 2008

Canadian Mortgages Heading For Meltdown?

In my opinion they are not. We had Merrill Lynch Canada say today that we are going to have the same US style meltdown in Canada. I have been helping clients in Canada with mortgages for 16 years. I do not see from my client database or the lenders a major meltdown on the horizon. Canada was never as loose on lending as the US. The Canadian banks and regulators have done a good job in making sure that the high ltv mortgages were for the majority properly documented.
We are in a good position to weather the storm that the US financial markets have created.

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