LEADER 05004oam 22011774 450 001 9910788333603321 005 20230721045704.0 010 $a1-4623-4265-5 010 $a1-4527-5309-1 010 $a1-4518-7277-1 010 $a1-282-84344-3 010 $a9786612843440 035 $a(CKB)3170000000055281 035 $a(EBL)1608325 035 $a(SSID)ssj0000940080 035 $a(PQKBManifestationID)11523035 035 $a(PQKBTitleCode)TC0000940080 035 $a(PQKBWorkID)10948364 035 $a(PQKB)10509352 035 $a(OCoLC)500983363 035 $a(MiAaPQ)EBC1608325 035 $a(IMF)WPIEE2009130 035 $a(EXLCZ)993170000000055281 100 $a20020129d2009 uf 0 101 0 $aeng 181 $ctxt 182 $cc 183 $acr 200 10$aCanadian Residential Mortgage Markets : $eBoring But Effective? /$fJohn Kiff 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (19 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4519-1706-6 320 $aIncludes bibliographical references. 327 $aContents; 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 Outstanding 327 $a2. Outstanding NHS MBS and CMBs3. Canadian Bank Fixed-Term Mortgage Rates; 4. Residential Mortgage Versus Interest Rate Swap Rates; 5. 90-Day+ Delinquency Rate; References 330 3 $aKlyuev (2008) concluded that the Canadian market for housing finance is highly advanced and sophisticated, but financing options were somewhat limited, particularly at terms longer than five years. This paper argues that the paucity of longer-term loans is caused by a five-year maturity cap on government-guaranteed deposit insurance, and a prepayment penalty limit on residential mortgage loans in the Interest Act. That said, the availability and cost of residential loans for prime borrowers are comparable to those in the United States. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/130 606 $aMortgage loans$zCanada 606 $aHousing$zCanada$xFinance 606 $aMortgage guarantee insurance$zCanada 606 $aBanks and Banking$2imf 606 $aInvestments: Bonds$2imf 606 $aIndustries: Financial Services$2imf 606 $aInsurance$2imf 606 $aEconomic Development: Financial Markets$2imf 606 $aSaving and Capital Investment$2imf 606 $aCorporate Finance and Governance$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aInsurance Companies$2imf 606 $aActuarial Studies$2imf 606 $aFinance$2imf 606 $aInvestment & securities$2imf 606 $aBanking$2imf 606 $aInsurance & actuarial studies$2imf 606 $aLoans$2imf 606 $aResidential mortgages$2imf 606 $aCovered bonds$2imf 606 $aFinancial institutions$2imf 606 $aBonds$2imf 606 $aBanks and banking$2imf 607 $aUnited States$2imf 615 0$aMortgage loans 615 0$aHousing$xFinance. 615 0$aMortgage guarantee insurance 615 7$aBanks and Banking 615 7$aInvestments: Bonds 615 7$aIndustries: Financial Services 615 7$aInsurance 615 7$aEconomic Development: Financial Markets 615 7$aSaving and Capital Investment 615 7$aCorporate Finance and Governance 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aInsurance Companies 615 7$aActuarial Studies 615 7$aFinance 615 7$aInvestment & securities 615 7$aBanking 615 7$aInsurance & actuarial studies 615 7$aLoans 615 7$aResidential mortgages 615 7$aCovered bonds 615 7$aFinancial institutions 615 7$aBonds 615 7$aBanks and banking 700 $aKiff$b John$01472675 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788333603321 996 $aCanadian Residential Mortgage Markets$93685541 997 $aUNINA