mortgage

Think before you borrow

A report from the Fraser Institute states that Canadians are carrying a large amount of debt, and that this may not be that bad. Philip Cross, a former chief economic analyst at Statistics Canada, states that our debt is generally being used as an investment for financing an education, obtaining a mortgage, or starting a business. He believes that taking out loans for such ventures will pay off, and that our debt is under control — especially given that Canadians are “locking into low rates,” thus decreasing the risks of their overall debt. I agree with Mr. Cross that loans…

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