Canadian Mortgage Debt Grew By Over 5% Of GDP In Just One Year

Author: External Author | | Categories: Buying a Home

Canadian households are taking advantage of the cheap debt flooding the mortgage market. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in January. The total size of the debt pile isn’t just a shocker at this point. Over the past year, accumulated mortgage debt was more than 5% the size of the country’s GDP. One. Year.

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Original Article Source Credits:   Better Dwelling ,

Article Written By:  Daniel Wong

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