Tapping the mortgage income stream

In my last column I discussed investing in Canadian REITs, which provide investors with the opportunity to receive a share of the income derived from a diversified pool of real estate investments. In this column, I will discuss mortgage investment corporations (MICs), which are similar to REITs in that they produce income (about 8% per annum) from a diversified pool of assets, but different in the sense that the assets are not real property itself, but mortgages secured against real property.

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