Canadian Mortgage Debt Increased By $115 Billion — About 5% The Size Of GDP

Author: External Author | | Categories: Selling a Home

Record Canadian real estate sales and cheap money has led to a boom in mortgage debt. Bank of Canada (BoC) data shows residential mortgage credit hit an all-time high in March. That isn’t surprising, since it hasn’t fallen in Canada for a very long time. The rate at which it’s increasing is simply mind-blowing though. In just 12 months, homeowners added mortgage debt that was over the equivalent size of 5% of GDP.

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Original Article Source Credits:   Better Dwelling ,

Article Written By:  Daniel Wong

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