OECD warning over Canada’s overvalued housing, high debt

International economic think tank OECD says the Canadian economy is generally in good shape heading into 2017 but has again raised concern about house prices and household debt.

In its latest global economic outlook this week, the organization says that Canada’s “house prices, housing investment and household debt are very high, posing financial stability risks.”

Citing a potential correction for Vancouver and Toronto, the OECD suggests that it could be “disorderly” and lead to a sharp increase in mortgage defaults. The greatest risk it says, is from a rise in unemployment.
 

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:

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

Industry news

Submit a press release

Poll

Do you invest in commercial properties?