Governor of Bank of Canada - Debt Mistakes by Consumers "NOT MY PROBLEM"
Wednesday Oct 14th, 2015
A Recent article from Canadian Real Estate Wealth Magazine broke this report-
"Bank of Canada governor Stephen Poloz sent a clear message to those who take on debt levels or borrowing options that could put their financial security at risk; it’s your problem.
The governor said Tuesday that he was not surprised that borrowing, including mortgages, has increased under the low interest rates of recent years but that the central bank is not to blame for people’s choices.
He said that the level of household debt is not setting the bank’s policies and it is for lenders and borrowers to ensure that they are making the right decisions based on their circumstances." (credit- Steve Randall, Canadian Real Estate Wealth)
This again shows the importance of investing properly in your real estate purchase, whether it be where you chose to live or an income property, the greater the prices, the greater the risk, let us with our 35 years of experience help guide you and ensure you maximize return while minimizing risk, combined with our network of chosen mortgage specialists we can help you make sure your home buying experience is a dream.