Flaherty: No more changes to mortgages
December 17, 2014 | Posted by: Natalie Wellings
The statement comes about following new numbers released by the Bank of Canada on Monday showing that Canadian debt levels have reached record levels during the first quarter of 2011. According to Mark Carney, governor of the Bank of Canada, Canadians have leveraged themselves so much our debt levels are now in line with the United States and England. His concern? When interest rates inevitably rise, a large number of Canadians will be vulnerable to an economic shock.