Mr. Baker, I would agree with that assessment. Borrowers don't default generally due to rising interest rates, although there's clearly a stress point. It really is unemployment that dictates and drives mortgage defaults.
President and Chief Executive Officer, Canada Guaranty Mortgage Insurance Company
Mr. Baker, I would agree with that assessment. Borrowers don't default generally due to rising interest rates, although there's clearly a stress point. It really is unemployment that dictates and drives mortgage defaults.
See context to find out what was said next.