This Weeks Top Stories: Canadian Mortgage Debt Rises As 743,000 Households Defer Payments, And Reverse Mortgages Boom
Canadian mortgage debt is seeing growth accelerate, as hundreds of thousands stop making payments. The balance of mortgage debt reached $1.68 trillion in May, up 6.0% from a year before. This is the highest rate of growth since July 2017. The total number of Canadians on mortgage payment deferrals has also reached 743,000, so it’s easy to see this number swell.
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
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