05004oam 22011774 450 991078833360332120230721045704.01-4623-4265-51-4527-5309-11-4518-7277-11-282-84344-39786612843440(CKB)3170000000055281(EBL)1608325(SSID)ssj0000940080(PQKBManifestationID)11523035(PQKBTitleCode)TC0000940080(PQKBWorkID)10948364(PQKB)10509352(OCoLC)500983363(MiAaPQ)EBC1608325(IMF)WPIEE2009130(EXLCZ)99317000000005528120020129d2009 uf 0engtxtccrCanadian Residential Mortgage Markets : Boring But Effective? /John KiffWashington, D.C. :International Monetary Fund,2009.1 online resource (19 p.)IMF Working PapersDescription based upon print version of record.1-4519-1706-6 Includes bibliographical references.Contents; I. Introduction; II. Key Features of the Canadian Housing Finance System; III. Typical Features of Canadian Residential Mortgages; A. Canadian Mortgage Interest Rates; B. Origination and Prepayment Costs; Tables; 1. Non-Interest Rate Mortgage Cost Comparisona; C. Mortgage Insurance; IV. Prime Borrower Mortgage Funding Access; 2. Comparison of Canadian and U.S. Mortgage Insurance Premia on Prime; V. Summary and Policy Suggestions; Boxes; 1. Canadian Covered Bond Issuance; 2. CMHC Mortgage Rate Protection Program; Figures; 1. Canadian Residential Mortgages Outstanding2. Outstanding NHS MBS and CMBs3. Canadian Bank Fixed-Term Mortgage Rates; 4. Residential Mortgage Versus Interest Rate Swap Rates; 5. 90-Day+ Delinquency Rate; ReferencesKlyuev (2008) concluded that the Canadian market for housing finance is highly advanced and sophisticated, but financing options were somewhat limited, particularly at terms longer than five years. This paper argues that the paucity of longer-term loans is caused by a five-year maturity cap on government-guaranteed deposit insurance, and a prepayment penalty limit on residential mortgage loans in the Interest Act. That said, the availability and cost of residential loans for prime borrowers are comparable to those in the United States.IMF Working Papers; Working Paper ;No. 2009/130Mortgage loansCanadaHousingCanadaFinanceMortgage guarantee insuranceCanadaBanks and BankingimfInvestments: BondsimfIndustries: Financial ServicesimfInsuranceimfEconomic Development: Financial MarketsimfSaving and Capital InvestmentimfCorporate Finance and GovernanceimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfGeneral Financial Markets: General (includes Measurement and Data)imfInsurance CompaniesimfActuarial StudiesimfFinanceimfInvestment & securitiesimfBankingimfInsurance & actuarial studiesimfLoansimfResidential mortgagesimfCovered bondsimfFinancial institutionsimfBondsimfBanks and bankingimfUnited StatesimfMortgage loansHousingFinance.Mortgage guarantee insuranceBanks and BankingInvestments: BondsIndustries: Financial ServicesInsuranceEconomic Development: Financial MarketsSaving and Capital InvestmentCorporate Finance and GovernanceBanksDepository InstitutionsMicro Finance InstitutionsMortgagesGeneral Financial Markets: General (includes Measurement and Data)Insurance CompaniesActuarial StudiesFinanceInvestment & securitiesBankingInsurance & actuarial studiesLoansResidential mortgagesCovered bondsFinancial institutionsBondsBanks and bankingKiff John1472675International Monetary Fund.DcWaIMFBOOK9910788333603321Canadian Residential Mortgage Markets3685541UNINA