Canadians piling on mortgage debt as hot housing market continues

Canadians have been taking on more and more mortgage debt despite the ongoing COVID-19 pandemic, as borrowers try to keep up with a housing market that took off in the latter half of 2020 and has yet to slow down. Statistics Canada said Tuesday that household mortgage debt increased 7.4 per cent in November compared to a year earlier, pushing the total up to nearly $1.66 trillion. ...