The Globe and Mail reports in its Tuesday, April 14, edition that Canada's banks are part of this country's debt problem because they flog borrowing products like they are bread, milk or French fries. The Globe's Rob Carrick writes that quite a big deal was made last month of Bank of Montreal's offer of a 2.79-per-cent five-year fixed-rate mortgage. Toronto-Dominion Bank has been advertising a 2.74-per-cent five-year rate, and alternative lenders accessible through mortgage brokers have slightly lower rates. Mr. Carrick notes that no one criticizes gas stations or grocery stores for beating each other over the head to get prices down and attract customers. He wonders why banks and other lenders get panned for doing it with mortgage rates. Low rates are directly responsible for the state of the housing market today. Mr. Carrick says, however, that is not the fault of lenders. He says Canadians get the interest rates our economy deserves. Still, banks and other lenders are not entirely blameless in their mortgage policies. They use affordability measures designed to assess the risk that clients will default on their mortgage payments, not whether they can carry a mortgage and life's other costs.