Canadian Mortgage Debt Reached 96% Of GDP, Growth Beginning To Slow

Author: External Author | Categories: Business Owner Mortgage , Commercial Mortgage , Debt Consolidation , First Time Home Buyer , Investment Property Mortgage , Mortgage Agent , Mortgage Pre Approval , Mortgage Renewal , Mortgage Services , New to Canada Mortgage , Refinance Mortgage , Renovation Mortgage , Self Employed Loans

Canada’s economic recovery has hinged on real estate, and mortgage debt highlights it. Data from the Bank of Canada (BoC) shows mortgage debt slowing in growth in December 2021. However, slowing at the current annual growth rate might not look like much, growing at double the rate of GDP. Mortgage debt has grown so fast, it’s nearly reached the size of the country’s economic output.

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Original Article Source Credits: BETTER DWELLING,

Article Written By: Daniel Wong

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