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Mortgage Factoid of the Day

Here’s two factors that suggest Canada’s housing market might not succumb to the same type of housing "correction" as in the U.S.

  • The number of Canadians with mortgages in arrears is at a record low.  In the U.S. mortgage foreclosures are up 42% in the past year.
  • In the U.S., real estate comprises 34% of typical household assets.  In Canada that number is only 20%.

Source:  The Gazette