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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  FU

HOMEOWNERSHIP, MORTGAGE DEBT AND TYPES OF MORTGAGE AMONG CANADIAN FAMILIES, 1999 - 2016 Released at 8:30 a.m. Eastern time in The Daily, Thursday, August 8, 2019 Despite a slight decline from 2012 to 2016, Canadian families are more likely to own a home than they were two decades ago. However, the proportion of those who have paid off their mortgage has declined from 46% in 1999 to 43% in 2016, meaning more Canadian homeowners have a mortgage. This latter trend is consistent across all age groups. While rising housing prices have increased the wealth of many Canadian homeowners, Canadians also saw their mortgage debt increase. From 1999 to 2016, the median mortgage debt almost doubled in real terms for Canadian families, rising from $91,900 to $180,000. These results are from the new study, " Homeownership, mortgage debt and types of mortgage among Canadianfamilies ," published today in Insights on Canadian Society . The study uses data from the Survey of Fi