Canadians took out fewer new mortgages in Q4 while debt continued to increase
BNN Bloomberg
Equifax says Canadians took out fewer new mortgages even before interest rates began to rise last week, but consumer debt continued to increase in the fourth quarter.
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In a strategic election-year manoeuvre, U.S. President Joe Biden has introduced substantial tariff increases on various Chinese goods, aiming to strengthen domestic production in crucial sectors. Although the move is aimed at protecting American labour and businesses from what Biden deems unfair practices, the impact could be huge if Canada follows suit.