04223oam 22009974 450 991096984830332120250426110114.0978661284344097814623426551462342655978145275309614527530919781451872774145187277197812828434481282843443(CKB)3170000000055281(EBL)1608325(SSID)ssj0000940080(PQKBManifestationID)11523035(PQKBTitleCode)TC0000940080(PQKBWorkID)10948364(PQKB)10509352(OCoLC)500983363(MiAaPQ)EBC1608325(IMF)WPIEE2009130(IMF)WPIEA2009130WPIEA2009130(CaBNVSL)gtp00535960(CaOOCEL)218667(VaAlCD)20.500.12592/ccg49p(EXLCZ)993170000000055281218667CaOOCEL(Public Documents)20020129d2009 uf 0engurcnu||||||||txtccrCanadian Residential Mortgage Markets : Boring But Effective? /John Kiff1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (19 p.)IMF Working PapersDescription based upon print version of record.9781451917062 1451917066 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 loansCanadaHousingFinanceCanadaMortgage guarantee insuranceCanadaAdjustable-rate mortgageIptcncBankIptcncBankingIptcncBond (finance)IptcncBusinessIptcncCanada mortgage and housing corporationIptcncCommercial mortgage-backed securityIptcncCovered bondIptcncCreditIptcncDebtIptcncMortgage loansHousingFinance.Mortgage guarantee insuranceAdjustable-rate mortgageBankBankingBond (finance)BusinessCanada mortgage and housing corporationCommercial mortgage-backed securityCovered bondCreditDebt338.29134Kiff John1815661International Monetary Fund.DcWaIMFBOOK9910969848303321Canadian Residential Mortgage Markets4371566UNINA