Genworth MI Canada, Mortgage Firms Buoy Housing Optimism
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Genworth MI Canada Inc. and Home Capital Group Inc. reported profits that beat analysts’ estimates as low interest rates drive demand for Canadian homes.
Genworth, the country’s largest private mortgage insurer, reported July 29 that loan losses slid to the lowest level since its initial public offering in 2009 and premiums jumped 17 percent. Home Capital yesterday boosted its dividend as net income rose 20 percent.