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Home Economics Subprime lending market in Canada skyrockets to record as banks tighten reins

Subprime lending market in Canada skyrockets to record as banks tighten reins

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Subprime lending market in Canada skyrockets to record as banks tighten reins

Subprime lenders’ share of the Canadian mortgage market has reached record levels, according to data obtained by the Financial Post, putting increased risk on the housing market. Alternative lenders, who are major beneficiaries of that subprime market, now underwrite 2.2% of all mortgage loans – probably not enough to cause any major structural damage to the…

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