8/24/2021 | Posted in Financial Health by Michael Antczak
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Mortgages keep growing, but the last year saw the biggest drop in Canadian credit card debt since at least 1999. ... More

Real Estate & Mortgage News

  6/30/2021 | Posted in Financial Health by Michael Antczak
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One of the greatest bull markets in Canadian real estate history has resulted in Canadians amassing record mortgage debt. ... More

Real Estate & Mortgage News

  6/19/2021 | Posted in Financial Health by Michael Antczak
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Canadians now owe almost $2 trillion in mortgage and home equity line of credit debt combined ... More

Real Estate & Mortgage News

  6/8/2021 | Posted in Mortgages and Real Estate by Michael Antczak
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A surge in mortgage borrowing is pushing consumer debt loads higher in Canada despite falling credit card use, as households plow more money into their homes while spending less ... More

Real Estate & Mortgage News

  5/21/2021 | Posted in Canadian Economy and Housing Market by Michael Antczak
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The Bank of Canada says its concerns are mounting that households are piling on too much debt and posing what the central bank says is a key vulnerability to the economy. ... More

Real Estate & Mortgage News

  4/12/2021 | Posted in Canadian Economy and Housing Market by Michael Antczak
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In the pandemic-linked housing boom, average residential property values have become decoupled from average incomes over vast swathes of the country. ... More

Real Estate & Mortgage News

  3/30/2021 | Posted in Mortgages and Real Estate by Michael Antczak
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The national mortgage debt balance hit a new record high of $1.65 trillion in Q4 2020, according to data from Statistics Canada. ... More

Real Estate & Mortgage News

  3/14/2021 | Posted in Mortgages and Real Estate by Michael Antczak
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Canadian households piled up a record amount of mortgage debt for the second quarter in a row amid low interest rates and high housing prices, Statistics Canada said Friday. ... More

Real Estate & Mortgage News

  3/10/2021 | Posted in Canadian Economy and Interest Rates by Michael Antczak
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The Bank of Canada left interest rates and its asset purchase program unchanged, in a decision that may dampen speculation of an imminent paring back of its stimulus campaign. ... More

Real Estate & Mortgage News

  3/9/2021 | Posted in Mortgages and Real Estate by Michael Antczak
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Mortgage credit grew in the fourth quarter of 2020 as Canadian consumers took steps to reduce all other forms of debt, according to new data from TransUnion. ... More

Real Estate & Mortgage News

  12/11/2020 | Posted in Financial Health by Michael Antczak
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Canadian households owed an average of $1.71 for every dollar of disposable income in the third quarter, Statistics Canada said on Friday. ... More

Real Estate & Mortgage News

  11/30/2020 | Posted in Financial Health by Michael Antczak
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The debt carried by Canadian households has hit the $2 trillion mark for the first time, driven up by rapidly rising mortgage balances, credit rating agency Equifax said in a ... More

Real Estate & Mortgage News

  11/18/2020 | Posted in Financial Health by Michael Antczak
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The COVID-19 pandemic has pushed Canadians to accumulate the largest amount of cash ever recorded. ... More

Real Estate & Mortgage News

  11/3/2020 | Posted in Canada Living by Michael Antczak
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Canadian consumers are running out of cash, according to TransUnion. ... More

Real Estate & Mortgage News

  10/28/2020 | Posted in Canadian Economy and Interest Rates by Michael Antczak
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The Bank of Canada held the rate steady at 0.25 per cent and said the country’s economy won’t fully absorb slack in the economy before 2023, suggesting it will ... More

Real Estate & Mortgage News

  10/23/2020 | Posted in Canadian Economy and Interest Rates by Michael Antczak
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Slower borrowing might lead to less consumer spending that could further delay Canada's economic recovery ... More

Real Estate & Mortgage News

  9/15/2020 | Posted in Financial Health by Michael Antczak
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But more challenging times could be on their way. ... More

Real Estate & Mortgage News

  8/30/2020 | Posted in Mortgages and Real Estate by Michael Antczak
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Canada’s total balance of mortgage payment deferrals stood at over $247 billion as of the end of the second quarter, according to data from TransUnion. ... More

Real Estate & Mortgage News

  8/12/2020 | Posted in Canadian Economy and Housing Market by Michael Antczak
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The head of Canada’s housing authority implored the nation’s lenders to “reconsider” offering mortgages to highly leveraged households, saying excessive ... More

Real Estate & Mortgage News

  7/9/2020 | Posted in Financial Health by Michael Antczak
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Canadian household debt has shown relatively muted increases despite growth in the mortgage segment, according to data from the central bank. ... More

Real Estate & Mortgage News

  7/6/2020 | Posted in Financial Health by Michael Antczak
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Data from the Office of the Superintendent of Bankruptcy Canada (OSB) revealed that federal fiscal support and payment deferrals are helping households retain their purchasing ... More

Real Estate & Mortgage News

  6/13/2020 | Posted in Financial Health by Michael Antczak
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The ratio of debt to disposable income peaked in 2017 at 178 per cent but it is currently just shy of that level. ... More

Real Estate & Mortgage News

  5/20/2020 | Posted in Financial Health by Michael Antczak
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Although COVID-19 has slowed down the rate of insolvency filings nationwide, the year-to-date total is still the highest in a decade, according to the Office of the Superintendent ... More

Real Estate & Mortgage News

  5/18/2020 | Posted in Financial Health by Michael Antczak
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Canadian household debt has reached $2.28 trillion in total as of March, with mortgage payments accounting for a significant slice of the growth, according to data from the Bank ... More

Real Estate & Mortgage News

  4/21/2020 | Posted in Canadian Economy and Housing Market by Michael Antczak
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Rising unemployment and high debt is expected to boost mortgage loan delinquencies in Canada, though experts say it won’t play out like the U.S. subprime mortgage crisis of ... More

Real Estate & Mortgage News

  3/27/2020 | Posted in Financial Health by Michael Antczak
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The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms. ... More

Real Estate & Mortgage News

  3/17/2020 | Posted in Canadian Economy and Interest Rates by Michael Antczak
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The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ... More

Real Estate & Mortgage News

  3/13/2020 | Posted in Canadian Economy and Interest Rates by Michael Antczak
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The Bank of Canada cut its trend-setting interest rate by half a percentage point to 0.75 per cent from 1.25 per cent in a surprise move on Friday aimed at softening the economic ... More

Real Estate & Mortgage News

  2/27/2020 | Posted in Mortgages and Real Estate by Michael Antczak
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The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More

Real Estate & Mortgage News

  1/28/2020 | Posted in Financial Health by Michael Antczak
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Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More

Real Estate & Mortgage News