Household debt hits a new high
Although the rate of credit accumulation is slowing, household debt in Canada hits new high in the fourth quarter of 2012, lending more evidence that actions taken by the Bank of Canada are stabilzing the housing market.
REPORT: Irresponsible lending uncovered in Toronto condo market report
According to a report produced by equity research firm, Veritas and reported by Huffington Post Canada, serious questions are now raised about the possibility of irresponsible lending practices in the Toronto condo market.
Mortgage rule changes go into effect today
Beginning today, lending institutions can only issue home equity loans up to a maximum of 80%, down from 85%, of a property’s value.
