Canadian Mortgage Approvals For Over-Leveraged Borrowers Soars To A Record High
Canada’s banking regulator is seeing a spike in highly indebted mortgage borrowers. The Office of the Superintendent of Financial Institutions (OSFI) observed renewed growth in the exposure of mortgages to “over-leveraged” households in Q4 2020. Low interest rates are fueling rapid growth in borrowing — for both quantity and size. The share of mortgages going to over-leveraged borrowers blew past the pre-B-20 highs. It now sits at the highest share of originations on record.
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Original Article Source Credits: Better Dwelling, https://betterdwelling.com
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Link to Original Article: https://betterdwelling.com/canadian-mortgage-approvals-for-over-leveraged-borrowers-soars-to-a-record-high/