The world of mortgages is often an elusive one. According to CanadianMortgageTrends.com
“Mortgages that are not insurable, income-qualified and owner-occupied are now attracting more scrutiny.”
The “Big Six” banks: National Bank of Canada, Royal Bank, The Bank of Montreal, Canadian Imperial Bank of Commerce, The Bank of Nova Scotia and TD Canada Trust definitely have their piece of the “pie” when it comes to mortgages. In the current times of up and down interest rates and uncertainties, these six could gain, in terms of market share, on conventional mortgages.
“B” lenders are lenders that provide mortgages which are riskier and rely heavily on the equity in the subject property and/or on charging rate premiums to mitigate that risk. With the government and prime lenders in risk minimization mode, uninsured non-prime lenders could win a bigger piece of the equity and alt-A“pie”.
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