That's how a recent IMF* paper characterized Canada's mortgage market. $ V o% @7 e* x9 W ! q" H7 @( T6 p/ K6 @. a7 ~6 O" zAmong other things, it compared Canadian and American mortgages and listed several key differences. Here are the big ones: 8 w4 V! x V O8 x# \% B, Z' I( ]/ \! ?, D1 O& `6 w