01573cas a2200241 a 4500 AALejournalIMF005856 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451872774 1018-5941 BD-DhAAL BD-DhAAL Kiff, John. Canadian Residential Mortgage Markets : Boring But Effective? / John Kiff. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (17 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Klyuev (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. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2009/130 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/130/001.2009.issue-130-en.xml IMF e-Library