The national balance sheet and financial flow accounts released Monday, found the credit market debt to disposable income ratio climbed to 181.66 in the second quarter, which is up from 179.71 the previous quarter.‘TRIFECTA OF MARKET CHALLENGES’
This marked the largest decline on record as individuals faced a “trifecta of market challenges,” with weaker housing, equity and bond markets weighing on Canadians’ wallets.DEMAND FOR MORTGAGESCanadians added “a near record $56.3 billion of debt in the second quarter” and mortgages were the largest contributor, with demand of $48.7 billion.
Selling the home before it's value plunges any more.
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