The Canadian Association of Accredited Mortgage Professionals released Revisiting the Canadian Mortgage Market – Risk is Small and Contained today.
While the report is a little bit more logical than the “rates are going up, everyone is F**KED” mentality of the media right now, I’m not to sure how it will be received. I think there will be a large majority pointing to the economist who wrote the report as having a vested interest in taking an everything is okay stance. On the other hand, a logical well thought out analysis like this is needed to calm the mortgage holding community. If he is right, and employment rises higher, we probably have little to worry about even if rates do rise. On the other hand, if we have a double dip recession, we could be in for a lot of trouble.
What do you think, is this report a little bit to conservative?
