Tag Archives: pay-off mortgage

Canadian Mortgage Debt Moderates

Two of Canada’s big banks (CIBC and TD Bank) report that consumer credit is rising at its slowest pace in nearly 20 years.  Total household debt which includes consumer and mortgage credit is now rising at only 5% per year, the slowest pace since 2002 according to CIBC.   Mortgage credit on its own rose by 6.3% on a year over year basis which is well below the 7.3% growth rates … Read More

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How to Pay Off a Mortgage in 10 Years

Debt loads in Canada are at all-time highs and nearing the peak levels reached in the US before their meltdown.  Although there’s been a lot of debate over the seriousness of the statistics and what steps should be taken, there is no question that each of us would like less debt.  Banks have been asking for tighter lending rules and Ottawa has been telling the banks to manage their own … Read More

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