Canadian Mortgage Debt Balance

The September figures come in the wake of Q2 numbers from Statistics Canada that showed the ratio of national mortgage debt to GDP reaching 84.28%. To compare, the level was 69.13% of GDP during the same time last year, and 59.02% a decade prior.

“That means during that period, mortgage debt grew over 40% faster than GDP,” Better Dwelling said in a separate analysis. “Considering this ratio was just 39.62% in 2000, that’s a huge increase. Especially if the economy doesn’t just bounce back to pre-pandemic levels of activity soon.”

Leave a comment

or Register - Cancel
First Name:
Last Name:
Confirm Password:
or Login - Cancel

What's Next

So many ways to get in touch with us and our agents! Choose the channel most convenient to you from the list down below.

Apply Now
Let us help you get a better rate!
Email Me
Send me an email
Contact Me
Phone : 416-220-8485