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Banks hold most cards in housing game

Posted by Jeff Campbell on Friday, June 25th, 2010 at 12:56pm.

Unlike the United States, where thousands of lenders compete tooth and nail, the industry in this country is concentrated in the hands of the banks and the credit unions, with a handful of smaller players focusing on borrowers the banks don't want to deal with. "Canadian banks have all the pricing power and the consumer doesn't," said Rob Sedran, an analyst at CIBC World Markets. Another reason banks like the business is because the riskiest mortgages are insured by Canada Mortgage and Housing Corp., a Crown corporation. 

Panorama Hills is a community of Calgary, Alberta.  We specialize in Panorama Hills Real Estate. If you have any questions about the Panorama Hills real estate market, or Calgary Real Estate market, Panorama Hills homes for sale, or would like a free market evaluation of your home. Call the Jeff Campbell Team now 403-816-4449 or visit your Panorama Hills Real Estate experts!

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