Canadian Mortgage Debt Tops $1 Trillion

Canadian Mortgage Debt Tops $1 Trillion
Canadians are holding more than $1 trillion worth of mortgage debt, the first time the total has passed that level, and a 7.6 per cent increase over the past year.The gain in the country's total residential mortgage debt is in keeping with the 7.5 per cent average seen over the past fifteen years, the Canadian Association of Accredited Mortgage Professionals (CAAMP) said in its annual report Monday. Over that time, Canadians total mortgage debt has increased by 194 per cent.