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Canadians Rein in Debts Amid Uncertainty
Posted by Tony McGoran
on Sunday, 04 December 2011
in In the News
Tony McGoran
Tony McGoran is president of mydebtsolution.com, who maintains an active role as a Credit Consultant counselli...
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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.
Tags: CMHC, Household debt, Mark Carney, Mortgage
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