Monday, July 06, 2020

Mortgage Debt Increases - Consumer Debt Contracts



From Better Dwelling:
Canadian households cooled on borrowing, but mostly just in one segment. Bank of Canada (BoC) data shows household debt stalled in May, after peaking in March. On the breakdown, mortgage debt is seeing growth boom as hundreds of thousands of Canadians stop making payments. Consumer credit on the other hand, made the first contraction since the 1980s.



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