Toronto condo market report: Introduction The subprime lending industry is alive and well in Canada; that is the subject of this Toronto condo market report . In fact, subprime lenders hold almost 8% of Canadian mortgages, which is a hefty 37.8% increase compared to the same quarter last year. And, this is the sixth consecutive quarter we saw the subprime lending industry grow. It’s now at its highest level in 10 years. Although many pundits blame the spike in prime lending to the new mortgage stress tests , it’s clear that this trend began years before stress testing was introduced. Toronto condo market report: What are subprime loans and how do you get one? Any loans that are for borrowers that do not have a good credit score They’re done through private lenders , typically accessed through a mortgage broker Private lenders are not federally regulated like the banking industry Private lenders...
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