New mortgage lending hits record high during pandemic, StatCan study
OTTAWA – Mortgage borrowing reached record highs in 2020, with households adding nearly $108 billion in mortgage debt, compared with less than two-thirds of that amount in 2019 and just under $46 billion in 2018. Despite the economic upheaval caused by the pandemic, expected credit losses on mortgage loans remained slight, accounting for 0.1% of mortgage debt as a...
Read More