Canadian Mortgage Debt Increased By $115 Billion — About 5% The Size Of GDP
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.
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Daniel Wong
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Link to Original Article: https://betterdwelling.com/canadian-mortgage-debt-increased-by-115-billion-about-5-the-size-of-gdp/
