The Canadian housing market is in good shape, and so are the banks, analysts say.

Original article via Financial Post. Click here to read.

Despite rising interest rates and various policy measures implemented to slow pricing growth, the Canadian housing market is not on track for a sharp decline. It nonetheless bears watching, as the domestic mortgage market is a big factor for the Canadian banks.

This business accounts for anywhere from 30 per cent to 60 per cent of their total lending portfolios, with CIBC and Royal Bank having the greatest exposure among the Big Six Canadian banks, and Bank of Montreal and Toronto-Dominion Bank being the least exposed. However, given the structure of Canadian mortgages and the composition of the banks’ portfolios, analysts are confident that a credit event remains remote.

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