Bob Alexander on Mon, Apr 11, 2011 wrote:
Canadian Mortgages at Risk?
Every year the Canadian Association of Mortgage Professionals ( CAAMP ) carries out research on the Canadian mortgage market. I have referenced these reports and their findings in earlier commentaries. The general media has a tendency to over hype concerns about Canadians and their respective debt levels. The CAAMP report, I feel, brings a more realistic and balanced viewpoint and can be used to determine the reality of Canadians and their debt loads. I have summarized the reports finding below.
Rapid Expansion of Debt
Residential mortgage credit has expanded very rapidly during the past decade, at an average of 10% per year. This growth has, understandably, raised fears. However, the