While US mortgage defaults continue to soar and subprime lenders succumb to years worth of dubious loans, Canada's mortgage market apperas immune to the fallout. It appears Canadian conservativism has insulated us from the excesses of our American cousins.
The mortgage market in Canada is healthier, the lenders are more prudent in terms of their approval process and Canadians are just more conservative in their products.
Canadians lock in for longer terms, two thirds of all mortgages in Canada are for fixed periods, the most common of which is five years.
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