*All information provided is confidential and your privacy is protected


    #1 Re/Max TEAM In Toronto & GTA***
    • #3 re/max team in canada***
    • #7 Re/Max Team in the World***
    • #1 Individual re/max Agent in the world**

    Mortgage Debt in Canada climbs to 3-year high in May

    Data from the national housing agency reported that Canadian Mortgage debt went up at the fastest annual rate in 3 years due to increased property sales and high levels of payment deferrals due to the COVID-19 pandemic. 

    The CMHC reported that mortgage debt rose 6 per cent year-over-year in May, the fastest since July 2017. 

    The top 6 banks reported mortgage deferrals of 13.5 per cent in the 3 months through July, and mortgage debt growth also went up in April after climbing g 5.1 per cent in the first 3 months of 2020.

    Read more from the News Source HERE