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.
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Daniel Wong
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