Mortgage growth slows but debt remains at record highs
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Mortgage growth slows but debt remains at record highs

As of January 2023, residential mortgage debt in Canada stood at $2.08 trillion, an increase of 6% compared to January 2022, but the rate of growth slowed compared to recent years. Inflation, rapidly rising interest rates, and cooling housing markets across the country weakened consumer confidence in 2022, resulting in fewer consumers looking to purchase…

Think twice before borrowing against your home equity
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Think twice before borrowing against your home equity

An estimated three million Canadians have one, and they have emerged as the single largest contributor to the growth of household debt in Canada. Yet many consumers do not appear to fully understand how they work. No, we’re not talking about credit cards or car loans. We’re talking about home equity lines of credit or…