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Canadian's household debt worries ease as mortgage borrowing slows in May: RBC

posted by The Mortgage Associates    |   August 6, 2014 08:20

Canadian's household debt worries ease as mortgage borrowing slows in May:  RBC

Article by Canadian Press, July 4, 2014

"OTTAWA — The Royal Bank says Canadians have been slowing down the amount of debt they are taking on to buy real estate, easing concerns about household vulnerability.

The RBC paper notes that overall household debt accumulation remained flatlined at 4.2% growth in May, about the same level as the previous three months.
Outstanding mortgage debt stood at $1.23 trillion as the annualized growth slowed slightly to 5% from 5.1% in April."

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