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The housing slowdown in Toronto means Canadians, overall, aren’t getting any richer.
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We have $1.67 in debt for every dollar of disposable income in this country.
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The Bank of Canada has started using visual aids to scare people off of borrowing more.
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And it's not just mortgages.
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Toronto and Vancouver are the "most vulnerable" markets, NBF says.
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“Don’t borrow what the bank is willing to lend you..."
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Real estate agents can talk about the upside of buying right now, but they don't explain the downside of carrying massive debt. Yes, you may build some equity if you purchase a home, but if you've mortgaged 90 per cent of it, very little of your payments in your first five to 10 years will go towards repaying principal.
One-third couldn't cover costs at some point in the past year.
OTTAWA - Statistics Canada says the amount owed by Canadians compared with disposable income increased in the second quarter as debt levels rose more than income. The ratio of household debt to dispos...
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TORONTO - A survey by Manulife Bank of Canada says nearly half of Canadian homeowners are taking steps to whittle down their mortgage debt, but many would be in trouble if their monthly payments grew...
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OTTAWA — Canadians are carrying record amounts of debt, but they are managing their finances prudently, according to a report by the Fraser Institute. The report by Philip Cross, former chief economic...
OTTAWA - Statistics Canada says the ratio of household debt to disposable income hit a new high in the fourth quarter as incomes increased at a slower pace than consumer borrowing. The agency said Thu...
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TORONTO — Consumers are continuing to pile on debt despite economic uncertainty created by the sharp drop in oil prices. Credit monitoring agency Equifax says consumer debt, including mortgage debt, r...
Households in Canada’s two most western provinces have the highest averages for mortgage debts on principal residences. According to newly updated provincial data from Statistics Canada, the amount of...