Canadians Worried About Debt – RBC Survey
Debt Repayment / Personal Finance / Personal Finance News

Canadians Worried About Debt – RBC Survey

RBC released its Canadian Consumer Outlook Index today which reported that despite continuing reports stating the economy is recovering quickly, Canadians are worried about their debt levels and are anxious about their jobs. The Bank of Canada reported last week that consumer credit held by the big banks rose in December 2009 to $336B amount … Continue reading »

Report Finds First Time Homebuyers Are Not Taking on Too Much Debt
Debt Repayment / Economic News / Mortgage News / Mortgages / Personal Finance / Personal Finance News

Report Finds First Time Homebuyers Are Not Taking on Too Much Debt

A study by Canadian Association of Accredited Mortgage Professionals (CAAMP) which surveyed its mortgage broker members who issued more than 40K home mortgages during 2009 totaling $10B found that Canadians are borrowing less to purchase their new homes rather than more. The study was done after the Finance Minister, Jim Flaherty, and the Bank of … Continue reading »

Bank of Canada Governor Stresses Caution to Canadian Households
Debt Repayment / Economic News / Mortgage News / Mortgages

Bank of Canada Governor Stresses Caution to Canadian Households

The Governor of the Bank of Canada, Mark Carney, gave a speech in Toronto today regarding the Current Issues in Household Finances. Here are some of the highlights: Overview The global ecnomic outlook has improved: due to: 1. Feedback between financial markets and the real economy has reversed direction 2. The inventory cycle has turned … Continue reading »