Rising interest rates and new mortgage rules have finally forced an end to years of rapid lending.
The housing slowdown in Toronto means Canadians, overall, aren’t getting any richer.
The Bank of Canada has started using visual aids to scare people off of borrowing more.
And it's not just mortgages.
Toronto and Vancouver are the "most vulnerable" markets, NBF says.
“Don’t borrow what the bank is willing to lend you..."
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.
Households in Canada’s two most western provinces have the highest averages for mortgage debts on principal residences. According
Mortgage markets growing riskier Toronto in for a ‘cooling’ this year Canada’s housing markets will cool this year, leading