Big mortgages, static incomes fuel Bank of Canada’s housing crash fears – Barry McKenna and Tamsin McMahon Globe and Mail December 15, 2015 By alibali on January 10, 2016 in Dog Bone Blog While Canadians are piling on mortgage debt faster than their incomes are rising, a strong underwriting culture and policies that curb lending means fewer risks in the system than those that existed in the sub-prime era in the US. Low commodity prices will affect some regions and industries adversely but, overall, the Bank of Canada says they will be “manageable.” Loans to oil-producing regions by the big-six Canadian banks is 13% of all lending, or $320 billion.
No comments yet.