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MNI: Canada Mortgage Growth At Lowest Since 2001 At 3.3%

(MNI) OTTAWA
OTTAWA (MNI)

Canadian mortgage lending growth has slipped to a fresh low against a mark set back in 2001, and while that reflects the central bank's tightening campaign to tackle stubborn inflation the pace is still faster than recent economic growth.

Household mortgage lending rose 3.3% in March from a year ago according to Statistics Canada data released Friday, from a pace of 3.4% in February. Data revisions showed lending also advanced at a 3.3% pace in January.

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Canadian mortgage lending growth has slipped to a fresh low against a mark set back in 2001, and while that reflects the central bank's tightening campaign to tackle stubborn inflation the pace is still faster than recent economic growth.

Household mortgage lending rose 3.3% in March from a year ago according to Statistics Canada data released Friday, from a pace of 3.4% in February. Data revisions showed lending also advanced at a 3.3% pace in January.

Keep reading...Show less