CIBC World Markets economists believe that despite the recent cut to interest rates the rate of new mortgages and other lending is “moderating.”
The analysis didn’t look at CIBC’s own mortgage book but at those of TD Bank, RBC, BMO, Scotiabank and National Bank.
Although it notes the large amounts of money owed by Canadian consumers, the research note does not sound any alarms, noting that the low interest rates are making repayments of loans generally affordable.
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As we approach the next wave of financial results from Canada’s banks, experts are making their predictions about the strength of their home loans business.