Qualifying for a mortgage takes a lot more strategy than it used to. And banks are no longer the right move for millions of Canadians, as this chart below illustrates.
The share of mortgage business now flowing to credit unions, private/MIC lenders, and other non-banks is remarkable.
Federal policy has driven "riskier" borrowers outside the banking system since 2008. But all that risk still exists. It's just distributed differently now.
You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
Comments
Sign in or become a MortgageLogic.news member to read and leave comments.
Just enter your email below to get a log in link.