Canadian debt rates are improving! Mortgage rates shifted into a lower range in the late 1990s; this is when our long-term rise in household debt started. Canadians took advantage of lower interest rates to carry a higher level of debt. This year was the slowest debt growth Canada has seen in 35 years; according to BMO chief economist.The new mortgage rules have made borrowing in Canada less of a risk factor. Less mortgages are going to very indebted borrowers. When interest rates raise the expectation is to cool demand and help the economy. #interestrates #debt #oakvillerealestate
