Canadian Credit Crunch Headlines

• Credit crunch? What credit crunch? – [Financial Post]
  “There is no sign of a credit crunch in Canada — yet.Household credit is rising at an annual rate of well over 10% with both mortgage and consumer credit growing strongly while short-term business credit is expanding at close to 20-year highs, figures from the Bank of Canada and chartered banks show.”
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• Canadian households dodge U.S.-style credit woes – [Report on Business]
  “Canadians have dodged the severe credit woes gripping the U.S., where the collapse of the mortgage market has triggered rising delinquency and foreclosure rates and left households saddled with debt, says a report from CIBC World Markets.”
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• Canada consumers unscathed by credit crunch-report - [Reuters]
  “Canadian households have felt little fallout from the global credit troubles, with mortgage and consumer credit expanding and no big increases in arrears or delinquencies, according to a report released on Wednesday.
  The report, prepared by the Canadian Imperial Bank of Commerce, supports the Bank of Canada’s view that the country has been less affected than Europe and the United States by the financial market breakdown that originally stemmed from the U.S. subprime mortgage market.”
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Posted by:  Deya Bautista - Affiliated Real Estate Agent working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889

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