Quote:
Originally Posted by photon
Right, that's what I first thought as that's typically what's meant by a high ratio mortgage.
This then doesn't make sense though:
"41.8% of mortgages insured by CMHC in 2008 were to rental or high-ratio homeowners."
CMHC doesn't insure mortgages that are low ratio, so 100% of homewoner mortgages insured by CMHC should be high-ratio mortgages, that's the whole point of CMHC insurance! Is every high-ratio mortgage considered sub-prime?
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Glad I wasn't the only one reading that and thinking thinking this. I don't understand that 41% stat.