Tag Archives: canadian debt

One day before the anniversary of Jim Flaherty’s government-insured mortgage rule adjustment, the Bank of Montreal issued a report that illustrates the impact these changes have had on first-time home buyers in Canada over the past year. The new rules — first introduced July 9th, 2012 — reduced the maximum amortization period to 25 years and lowered how much Canadians …

Statistics Canada has recently revealed that subsequent to some historical revisions that Canada’s household debt-to-income figure was actually a whopping 163.4%. This is a marked increase from the 152% figure using the old methodology. Interestingly, this level is on par with the United States prior to their real estate correction. Although there is no definitive answer as to what economic …