Canadians have record-high mortgage debt. What occurs when charges rise?

New numbers from Equifax this week confirmed what housing market watchers have identified for some time now: Canadians are hooked on mortgage debt.  Canadians took out 410,000 house loans within the second quarter. That is the largest quarterly bounce on report, up 60 per cent in comparison with the identical interval a yr earlier. Regardless of fears within the early days of the pandemic that COVID-19 could possibly be a bucket of ice on Canada’s housing market, the other occurred. Rates of interest slashed to report lows, coupled with thousands and thousands of Canadians cooped up at house all of the sudden needing … Continue reading Canadians have record-high mortgage debt. What occurs when charges rise?