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Why Canada’s banks are so silent on mortgage changes Add to ...

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One by one, the list of critics is growing. First, mortgage brokers made a stink about Ottawa’s new mortgage rules, then alternative lenders spouted off. On Friday, the Canadian Real Estate Association warned that first-time home buyers will suffer, and cautioned the Canadian economy could, too.

Amid all this hating, one group has been notably silent – Canada’s big banks. And there’s a particularly good reason why: They largely approve of the crackdown.

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