Canada to buy up to C$25 billion in insured mortgages
Canada plans to buy up to C$25 billion in insured residential mortgages to help cushion banks from the global financial crisis and address a ``scarcity'' of private-sector lending, Finance Minister Jim Flaherty said on Friday.
Canadian mortgage debt for the first time has surpassed $1 trillion, according to the sixth Annual State of the Residential Mortgage Market report from the Canadian Association of Accredited Mortgage Professionals released today.