Household borrowing
Households added mortgage debt at a relatively slower pace in December, with total mortgage liabilities growing $10.4 billion (+0.5%) from November to reach $1,950.7 billion at the end of 2021. While the volume of existing home sales was lower in December on an unadjusted basis, the average sale price remained above the $700,000 mark. In December, new home prices for Canada grew (+0.2%) at their slowest pace since June 2020 according to the New Housing Price Index.
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