That's how a recent IMF* paper characterized Canada's mortgage market. + q! O/ S- @' w* v { 8 V; `2 I8 F8 I9 \% ?Among other things, it compared Canadian and American mortgages and listed several key differences. Here are the big ones: 5 [. n a2 t) I0 K% I; x7 d & H" F% x& T" q1 e$ M