Eighteen months into one of the most vigorous hiking cycles in history, 90-day #prime mortgage# arrears are still dragging along the historical bottom at just 15 bps. A year ago, virtually every analyst in the game thought they'd be higher by now. But the fact that 90-day arrears

The gap between insured and uninsured mortgage originations is now wider than the Grand Canyon. And it just keeps expanding, as the BoC's latest data show (chart below). The government seems blissfully content to let the insured market wither. The number of mortgages on CMHC's books,