While official figures show a technical recession for the first half of 2015, it seems Canadians were not put off from borrowing. A report from RBC shows that the average household’s level of debt grew to a new record high. The mortgage lender’s economist Laura Cooper estimates that Canadians now have $1.84 trillion in debt, including mortgages; up 4.9 per cent from the first half of 2014. Home loans increased 3.2 per cent. While interest rates are low and there have been some income gains, Cooper’s report warns that this will not continue for ever and notes that 40 per cent of outstanding debt is held by just 12 per cent of households. These could become a problem as mortgage rates rise.
MBN
About Me
- Jackie Goodlet, Broker
- GTA, Ontario, Canada
- A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!
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