MortgageBrokerNews.ca published an article last week titled “Household net worth rises nationally”. According to the article, Statistics Canada identified a 2.3% increase in household net worth across the country, but also a household debt to income ratio that has risen as well.
The article also describes how the Bank of Canada has warned that rising household debt, coupled with growing government debt, could set back the national recovery.
This, however, does not need to be true for individual economic recovery. With interest rates near historical lows, and a higher household net worth (i.e., piece of mind), you can pay off your mortgage faster than ever. Give us a call to find out how.
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