Mortgage Bond Sales Drop 16% From 2009 Record: Canada Credit
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Canadian mortgage bond sales fell 16 percent this year and may be little changed in 2011 as the country’s housing agency cuts supply to reduce borrowing costs.
Canada Housing Trust, the financing arm of the nation’s housing agency, sold C$39.4 billion ($38.9 billion) this year, according to data compiled by Bloomberg. Issuance ballooned to a record C$46.9 billion last year as the credit crunch limited other sources of funding for banks and mortgage lenders.