National Bank of Canada has reported that a Canadian household occupying the average income bracket would need around 60 months to save the minimum down payment for a residential property purchase. Assuming a…
Tag: Economist
Household mortgage debt balance approaching $1.66 trillion
Spurred by record-low rates and housing market dynamism, Canadians borrowed at an unprecedented pace in 2020, with national mortgage debt growing by 7.4% annually in November. The latest data from Statistics Canada showed that…
Poll: Canadians to prioritize debt repayments and savings over major purchases
Three out of four Canadians said that their top financial priority this year is to pay down debt or retain an elevated level of savings, according to a new survey conducted by Nanos…