Reverse Mortgages Hit Record Highs
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Globe and Mail
Records show reverse mortgages are up 42 per cent from the fourth quarter of 2010 See full story on this topic »
Can Canada’s economy keep up its solid pace of growth? – The Globe and Mail
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Consumer spending also helped pump up the economy in the fourth quarter, according to the federal statistics gathering agency.
Can Canada’s economy keep up its solid pace of growth? – The Globe and Mail
How Canadians are growing richer but deeper in debt
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The Globe and Mail- Canadians are getting richer as stocks and house prices rise. Household net worth rose 1.3 per cent in the first quarter of the year, or $74-billion, to $6-trillion, Statistics Canada said today, as the value of assets eclipsed the rise in liabilities. “This follows a 1.8 per cent advance in the previous quarter,” the federal statistics gathering agency said. “Gains in the value of financial assets, especially equities, as well as increases in residential real estate contributed to the advance in net worth.”
Household debt also rose, particularly mortgages, Statistics Canada said. The ratio of household credit market debt-to-income now stands at 147 per cent, up from 144.9 per cent in the fourth quarter of 2009…
How Canadians are growing richer but deeper in debt – The Globe and Mail
Mortgage debt surges as economy picks up steam
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The Globe and Mail-Canada’s economy is on fire, surging 6.1 per cent in the first quarter at an annualized pace. As a measure of comparison, that compares to 4.9 per cent in the fourth quarter of last year, and just 3 per cent in the United States in the first quarter. It’s the best
“Residential investment increased for a fourth consecutive quarter, as did consumer spending on goods and services,” Statistics Canada said this morning. “Export and import volumes both rose for a third consecutive quarter, with growth in imports outpacing growth in exports in the first quarter.”
Notably, business investment rose 0.2 per cent. Spending on machinery and equipment rose 1.8 per cent, Statistics Canada said, though it is still 23 per cent below the peak in the first quarter of 2008…
Mortgage debt surges as economy picks up steam – The Globe and Mail
