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Posted AT 3:48 AM EST on 13/03/08

U.S. mortgage mess creeps north

TARA PERKINS AND LORI MCLEOD

From Thursday's Globe and Mail

The effects of the U.S. subprime crisis are showing up on the fringe of the Canadian mortgage business, even though mainstream lending and the housing market are on solid ground. Lenders catering to riskier borrowers, most of whom took advantage of new financing techniques and a wave of liquidity to enter the market in the past few years, are struggling to fund their operations.

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