As the big banks get choosier about who they’ll lend money to in this hot housing market, Canada’s once-small subprime mortgage industry is quietly booming. The Canadian Real Estate Association released figures Monday showing Canadian home sales rose 2.5 per cent in March, and the average Canadian home sold for $369,677 last month. That was actually a slight decline from the level of a year ago, but it comes on the heels of almost uninterrupted strong gains over the previous two years. Continue reading →