CARNEY SOUNDING MORE OPTIMISTIC ON HOUSEHOLD DEBT

Dec 11, 2012

By Michael Kramer

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The head of the Bank of Canada says  his warnings about coming interest rate hikes may be resulting in lower household debt.

Bank Governor Mark Carney says the  advantages of signalling future intentions about interest rate hikes may be influencing the types of mortgages homebuyers are acquiring.

He points out the share of fixed-rate mortgages has almost doubled to 90 per cent this year, with a corresponding decline in variable-rate mortgages.

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