Mortgages Lead Credit Growth as Delinquency Rates Decline

Author: External Author | | Categories: First Time Home Buyer Mortgage , Home Equity Line Of Credit , New To Canada Mortgage


Mortgage credit grew in the fourth quarter of 2020 as Canadian consumers took steps to reduce all other forms of debt, according to new data from TransUnion.

The credit agency’s Q4 Industry Insights Report showed mortgage credit grew 5.6% year-over-year, while the average balance of mortgage loans outstanding rose 5.7% to $292,863.

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Original Article Source Credits:    CANADIAN MORTGAGE TRENDS ,

Article Written By:  Steve Huebl

Original Article Posted on:  March 9, 2021

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