In what brokers hope is a precedent, media pressure appears to have saved a borrower from the hefty discharge costs associated with a collateral mortgage.
The average Canadian owed $21,428 not including mortgages at end of last year
A new report suggests that British Columbia could see a mass default on mortgages if there was a widespread crash in house prices.
Equifax reports total Canadian credit market debt rose to $1.5 trillion in 2014
Households across Canada have reached record-high debt levels, with credit-market debt including mortgages, consumer credit and non-mortgage loans growing 163.3 per cent.
CBC’s Marketplace went undercover to one big bank to see how transparent it was about collateral mortgages and the fine print associated with them.
Readers are debating mortgage debt versus consumer debt after the CMHC released previously confidential remarks about its concern for the housing market, but is it time to finally put that discussion to bed?
A report from RBC says that household debt grew by 4.6 per cent in January, the fastest growth in 2 years.
The slowdown in the oil industry and the resulting job losses will mean a “moderate” decline in the Alberta housing market.
Almost one in five Ontario residents owe more than they own or earn, making them technically insolvent and at risk of bankruptcy, a new poll finds.