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Canadians managing mortgages despite soaring household debt load

Canadians may be shouldering near-record household debt but homeowners have been managing it better than those that don’t own property, according to the country’s housing agency.

Canadians managing mortgages despite soaring household debt load: cmhc katia Dmitrieva , bloomberg news canadians may be shouldering near-record household debt but homeowners have been managing it better than those than don’t own property, according to the country’s housing agency.

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Household debt in Canada, a nation generally known for moderation, has reached levels that could be qualified as excessive. Canadians owe $2.16 trillion-which, as a share of gross domestic product, is the highest debt load in the Group of Seven economies. With the housing market cooling, a reckoning may be fast approaching.

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Canadians managing mortgages despite soaring household debt load Mortgage delinquency rates and credit scores improved in the fourth quarter of 2016 from the third quarter and those with a home.

Household debt in Canada – the good, the bad, and the ugly.. While debt management should be a concern for many Canadian families, this doesn’t. the household can eliminate the loans in a methodical manner and get back to the business of creating financial stability and wealth.

Amid soaring household debt, delinquency rates remain low and stable, with fewer highly indebted and vulnerable consumers, according to a Canada Mortgage and Housing Corp. report this week.

January home prices show 5% increase: black knight canadians managing mortgages despite soaring household debt load Canadians managing mortgages despite soaring household debt load Mortgage delinquency rates and credit scores improved in the fourth quarter of 2016 from the third quarter and those with a home.Amazon scraps plan to build a headquarters in New york city amazon scraps plans for.

"Despite increasing debt levels, the amount of household disposable income allocated to service mortgages have remained stable since 2008," says DBRS. In this year’s third quarter, canadians spent 6.1 per cent of their disposable income for mortgage payments.

Eric Weisbrot

As of October 2018, Canadian household debt reached a whopping $2.158 trillion. Undoubtedly, this is a significant number. Despite tighter lending rules put in place to minimize risk, rising interest rates threaten the average Canadian’s capacity to manage what are staggering personal debt loads.