Canadian Mortgage & Lending Market Update
Scotia Bank of Canada has just released a special Economic Release. In which the describe the fundemental differences in the way that Canadian borrow money from that of the folks in the United States. Yes, we do have the highest priced homes on average in Canada, however we also have the lowest default rate as well.
Subprime mortgages in British Columbia make up less than 1% of all mortgages, in short folks can’t walk away from their homes without loosing a considerable sum of money initially invested. The is security in knowing that you nieghbour has no equity and nothing invested in their home… walking away only means a bad credit score. We simply just don’t have that here in Vancouver, and there is security in knowing that.
Contact Us in the Form Below
For a Market Update in your area
Other Related Posts
Filed under: Developments, Statistics