Found 1 blog entry tagged as Canadian debt.

Soaring Canadian mortgage debt might finally be showing some signs of cooling. Bank of Canada (BoC) data shows outstanding mortgage credit hit a high in September. Annual growth is now rising at one of the fastest rates in over a decade. However, the pace of borrowing is falling very quickly. This might be a sign we’re past the peak of growth for this credit cycle.

Canadian Mortgage Debt Hits $1.77 Trillion

Canadian mortgage debt reached a new record high and did so at one of the fastest rates in history. Mortgage debt for housing hit $1.77 trillion in September, up 0.7% ($11.5 billion) from a month before. The balance is 9.6% ($155 billion) higher compared to the same month last year. Only August’s annualized growth showed a larger dollar…

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