Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household disposable income on servicing their mortgage debt, up from 7.5% in the previous quarter and 7.09% a year earlier. That’s a record high according to data going back to 1990. Looking at total overall debt obligations, the average debt-to-service […] 

Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household disposable income on servicing their mortgage debt, up from 7.5% in the previous quarter and 7.09% a year earlier. That’s a record high according to data going back to 1990. Looking at total overall debt obligations, the average debt-to-service  Mortgage Rates & Mortgage Broker News in Canada