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July 8, 2015

Canada’s mortgage insurance risk needs a better backstop fund, according to a new report released today by the C.D. Howe Institute. In “Mortgage Insurance as a Macroprudential Tool: Dealing with the Risk of a Housing Market Crash in Canada,” authors Thorsten V. Koeppl and James MacGee suggest an era of steadily rising house prices and high mortgage debt warrants concern over the potential exposure of Canada’s mortgage insurance system – and taxpayers. 

James MacGee
Thorsten Koeppl

Scholar in Financial Services and Monetary Policy, C.D. Howe Institute

Professor Koeppl is Professor and RBC Fellow in the Department of Economics at Queen’s University and Scholar in Financial Services and Monetary Policy at the Institute.