Finally something that is easy to follow and set up in Life Stages.
What I found interesting is that 12% of Canadians hold 43% of the National Household Debt. That tells me that 88% of Canadians are very responsible with their debt.
70% of The National Debt is Mortgages which 82% of Canadians feel is Good Debt and 84% of Canadians feel that Real Estate is a good Long-Term Investment. With a large percentage of debt at low mortgage rates, it is essential for The Bank of Canada to maintain these low rates to ensure stability in our economy?
Comments by Richard Kitts, Mortgage Broker Tristar Funding Corp, The Mortgage Centre Kitchener Waterloo.
Canadians have amassed a record $1.8 trillion in household debt, double what it was a decade ago. Referencing various reports prepared by financial services industry analysts including the Canadian Association of Accredited Mortgage Professionals (CAAMP), Autowatch, CEB Tower Group and McVay & Company, learn how we arrived here.