Canadians add 2% to household debt

A new report from Equifax shows a 2% rise in Canada’s household debt in the second quarter.

The total reached $1.568 trillion, equating to $21,164 per person with a credit file, excluding mortgages.

Auto loans were one of the drivers of the growth, up 3.9% in the second quarter. However, the overall pace of growth was lower, having been 2.7% in the first quarter of 2015.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Investment Hot Spots:
Brisco, Howard Brook, Fergusonvale, Saint-Alexis-de-Matapédia, Calixa-Lavallée

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Have your investment plans changed for 2017?