News from Canada's Mortgage Experts
Category: The Facts Your Bank Won't Tell You
How the Banks Make Big Profits from Their Mortgage Clients
Wednesday, Jan. 27, 2010
Posted by: Don Bayer, CFP
Bankers get the bonus, and government takes the risk
Fabrice Taylor, Globe and Mail
Published on Monday, Jan. 25, 2010
So, what makes a retail bank a cash cow? Ultimately its mortgages. This article clearly demonstrates that no matter what a bank does with the mortgage lending, there is no risk in Canada to the Banks ever losing money and only reward and rich profits. Nice concise overview that may turn your stomach. All the more reason to shop your mortgage and avoid the pitfalls that put the steroids in the Banks earnings – all on the backs of Canadians!
Click HERE to read the article.