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• Mortgage Bytes
This could be the best year for mortgage investment corporation (MIC) returns in decades, at least for some of them.
That's the outlook from the head of Canada's largest residential MIC, Will Granleese, Director and Portfolio Manager at Antrim Investments. His MIC has been around for three decades, and when asked about 2024, his reply was glowing: "I see this as a golden age for private lending."
That would strike some as unintuitive—i.e., that a MIC manager is popping champagne bottles when the housing market is supposedly heading towards recession. To get some context, we caught up with Will a few weeks ago. He served up an insider's scoop on why non-institutional mortgage lending could be this year's Cinderella finance story.