One of our readers, Jim, was kind enough to post links for three excellent reports comparing the U.S. and Canadian Subprime markets.  Here they are:

• Mortgage Risk – Canada vs. US — Benjamin Tal, CIBC
• U.S. – Canada Mortgage Market Comparison — Xceed
• Comparing the Canadian and U.S. Subprime and Alternative Mortgage Markets — Mortgage Architects

Jim also makes another point:

“There is a danger when comparing Canadian and U.S. “subprime” markets. In the U.S., subprime means subprime only and not Alt-A or Jumbos. While in Canada the media and analysts tend to lump the two together into a Canadian subprime or “non-traditional” category.”