Private mortgage insurers are optimistic about the market

Two of Canada’s largest private mortgage insurance firms are sounding positive notes about the state of the market.

Genworth and Home Capital Group have both seen stability in the market; Genworth has reported the lowest level of loan losses since 2009 at 12 per cent, although they predict a final figure for the year to be in the region of 15-25 per cent.

The general picture from the insurers is that while household debt has increased, it is generally affordable currently, with defaults less common.

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