Canadian Mortgage Debt Hits $1.69 Trillion, Fastest Rate Of Growth Since 2010
Canada is experiencing a real estate boom, and it’s fueled by a flood of cheap mortgage debt. Bank of Canada (BoC) data shows mortgage credit reached a record high in April. That’s no longer a surprise since it’s a regular occurrence, but the rate of growth is noteworthy. Canadians added the equivalent of 6% of GDP to mortgage debt over the past year. It’s now growing at the fastest rate in a decade, as people scramble to buy as much house as possible.
Original Article Source Credits: Better Dwelling, https://betterdwelling.com/
Article Written By: NA
Original Article Posted on: 19th June 2021
Link to Original Article: https://betterdwelling.com/canadian-mortgage-debt-hits-1-69-trillion-fastest-rate-of-growth-since-2010