Hold the line. Canadians appear to be largely steering clear of home purchases as mortgage dept slows for the 6th consecutive month. mortgages interestrates
, which is not seasonally adjusted, new home prices were down 0.2%, marking a third straight monthly decline.
“The increase in November pushed credit card balances higher than their previous peak level recorded in February 2020, before the COVID-19 pandemic,” states StatCan. “Certain households may have been more reliant on credit card debt to meet short-term obligations as increasing interest rates and inflationary pressures affected households’ ability to manage their debt.”
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