Mark Carney has a dilemma: He views record high household debt the number one domestic risk to the economy, but believes he would hurt the recovery if he raised interest rates to slow borrowing.

But the Bank of Canada governor said in an interview with The Canadian Press that he would be prepared to intervene if things got out of hand. Is your household debt out of hand? mydebtsolution.com stands ready to help you and your family ease the financial burden and become debt free with our credit counselling services. Our Credit Counsellours are ready to assist. Read more...

Canadians are getting the message on debt. This is according to a Globe and Mail article. The full text can be found here, or just read on.

After months of warnings from senior officials like Bank of Canada Governor Mark Carney, consumers are pulling back on their borrowing. In particular, the rate at which they are racking up new mortgage debt has slowed, according to a new analysis by Canada Mortgage and Housing Corp., a phenomenon that is partly caused by a cooling housing market.