Saskatoon Mortgage Broker shares article on Canadians piling up ‘good debt’

Canadians piling up ‘good debt,’ report says

The Globe and Mail,  Kiran Rana, August 12, 2015

Canadians are borrowing more, but much of what they owe is “good debt,” a new report suggests.

The average amount of debt Canadians now hold rose significantly to about $93,000 in June from $76,140 a year earlier, according to the report released Wednesday by Bank of Montreal. The report, which looks at major contributors to overall household debt in the country, found credit card debt and mortgage debt listed as the top two types.

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