Canadians are 'maxed out' on their debt and have no plan to pay it off: survey
Consumers' sharply negative response to what should have been a mild increase in rates is throwing a big question mark over the long-running notion that Canada is a beacon of responsible lending.
A recent report from CIBC suggests that the pressure to get into the housing market is trumping responsible borrowing among Canadian households. The mortgage stress test put in place last year, which applies only to federally-regulated lenders, isSome experts have said over the years that it's practically impossible to estimate the risk in these unregulated mortgage markets in Canada, because we simply don't have the information to track them.Grant Bazian, MNP Ltd.
Popular fixed-rate mortgages tend to follow the five-year bond, so mortgage rates may be coming down again in Canada soon, BMO suggested.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A quarter of Canadians say they struggle to pay bills by month-end: SurveyA third of Canadians surveyed say interest rate increase could push them towards bankruptcy
Read more »
Auston Matthews's decision to switch sticks pays off for Maple Leafs - Sportsnet.caA new piece of equipment paid off last night for Auston Matthews and it appears as though it's sticking around. (reporterchris )
Read more »
Favourite Room: Patience paid off for this ‘slow build’ of a Toronto homeThis Toronto homeowner was in no rush to furnish her home, and her design focused on finding Canadian pieces
Read more »
Strategic pricing pays off for King West condoThis vacant one-bedroom-plus-den suite in the trendy downtown King West district was staged and priced at $699,000 to entice a large crowd
Read more »
Steve Ewen: Plouffe's persistence to improve pays off with Giants' hot playoff run“Being a younger guy and going through some tough times, I know it wasn’t fun. Going through this with a lot of the younger guys now, it gives a taste of what winning is.”
Read more »
CHL Notebook: Acquiring experience paying off for title seekers - Sportsnet.caAll four teams remaining in the Ontario Hockey League playoffs added players with valuable experience earlier this season as they geared up for post-season runs.
Read more »
Raptors' determination pays off in convincing Game 4 win over Magic - Sportsnet.caThe Toronto Raptors are the better team in their best-of-seven series versus the Orlando Magic and they were certainly determined to prove it on Sunday night in Game 4.
Read more »
Lululemon plans 580,000-square-foot headquarters off Great Northern WayThe complex would be more than four times the size of the company’s current 130,000-square-foot Kitsilano headquarters
Read more »
Maturation of Matthews leads to more communication, better break outsThe Maple Leafs are one win away from winning the team’s first playoff series in 15 years. It's been the face of the franchise, Auston Matthews, leading the way with four goals in the last three games, Matthews and the young core are growing up and now they have to finish the job against the rival Bruins. Mark Masters has more in this report.
Read more »