• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Phone: (604) 605-3335  Toll Free: (888) 850-6585

 

 

Boale, Wood and Company

Boale, Wood and Company

Licensed Insolvency Trustee

  • Our Company
    • Why Use Us
    • David Wood
  • Solutions
    • Personal Solutions
      • Alternatives to Bankruptcy
      • Consumer Proposal
      • Consumer Proposal vs. Debt Management Program
      • Division 1 Proposal
      • Personal Bankruptcy
      • Proposal Comparison
    • Corporate Solutions
      • Bankruptcy
      • Debt Restructuring
      • Informal Workouts
      • Creditor Proposal
      • Receiverships
      • Liquidator Strata Wind Ups
      • Court Appointed Administrators
  • Resources
    • Forms
    • Newsletter
      • Newsletter Archive
    • Social Media
    • Media
    • FAQ
    • Articles
    • CAIRP
    • Privacy Policy
  • Blog
  • Ask a Trustee
    • Submit your Question
  • Contact Us
    • Free Initial Consultation
    • Vancouver Office
    • Surrey Office
    • Yukon Territory

BOC says mortgage debt a vulnerability

October 22, 2015 by admin

The Bank of Canada’s latest Monetary Policy Report is predicting a gradually strengthening of Canadian economy. In his opening announcement, Bank of Canada Governor Stephen S. Poloz says:

While the first half of the year was weak, there are clear signs of a pickup in growth. Taken as a whole, the second half should see growth in line with our July outlook, and we expect the economy will gather strength over the next couple of years.

However, the report calls out rising consumer debt mortgage debt as an issue:

Vulnerabilities in the household sector are continuing to edge higher. Although the most likely scenario is one in which these imbalances unwind gradually as the economy improves, a disorderly unwinding, such as one that might be triggered by further weakness in the
resource sector or a rapid rise in global interest rates, could have sizable negative effects on the economy.

Lower mortgage rates are contributing to strong growth in mortgage credit, especially in British Columbia and Ontario. The lower household borrowing rates are also supporting other forms of consumer credit growth and spending. As a result, the overall ratio of to disposable income has edged higher.

Looking ahead, the housing market and household indebtedness are expected to stabilize over the projection period as the economy
gains strength and household borrowing rates begin to normalize.

You can read or download the full report here,   and read BOC Governor Poloz’s opening statement here.

Articles,  debt

Primary Sidebar

Call Us Now

Phone: (604) 605-3335
Toll Free: (888) 850-6585
or use the Contact Form

We have offices located in Vancouver and Surrey.  We also provide services to residents and businesses in the Yukon Territory.

 

Looking for Forms?

We have a number of forms available for download here.

Footer

  • Email
  • Facebook
  • LinkedIn
  • Twitter