HOMEOWNERSHIP, MORTGAGE DEBT AND TYPES OF MORTGAGE AMONG CANADIAN FAMILIES - Full Report with additional resources

Insights on Canadian Society
Homeownership, mortgage debt and types of mortgage among Canadian families

by Sharanjit Uppal


Introduction
In recent years, a great deal of research has focused on the levels of debt that families carry and the increase in debt.Note Most of the increase in total debt is from mortgage debt, and the increase in mortgage debt can be attributed to two factors. The first is the rapid increase in housing prices. According to the monthly Home Price Index published by the Canadian Real Estate Association (CREA), housing prices rose by 109% (in nominal terms) from January 2005 to December 2016.Note  In comparison, during the same period, the Consumer Price Index (CPI) showed an overall price increase of 22%.Note  The second factor is mortgage interest rates, which have been at historically low levels for most of the last decade, making borrowing costs low and acting as an incentive for families to take on new or bigger mortgages...
Note 


Uppal, Sharanjit. 2019. “Homeownership, mortgage debt and types of mortgage among Canadian families”. Insights on Canadian Society. August. Statistics Canada Catalogue no. 75-006-X.


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