Home Credit Lines Fuel Record Canada Household Debt Binge

Canadians are piling on the debt. Home equity line of credit balances have grown six-fold since 2000 to C$211 billion ($156 billion) in 2016, driven by low interest rates and rising house prices, according to a Financial Consumer Agency of Canada report. Forty percent of consumers do not make a regular payment against the outstanding HELOC principal and 25 percent cover only the interest or minimum payment. Bloomberg's Allison McNeely reports. (Source: Bloomberg)

Full Show: Bloomberg Daybreak: Americas (08/03)
05:34 - Bloomberg Daybreak: Americas hosted by David Westin, Jonathan Ferro, and Alix Steel. Guests include Steven Major, global head of fixed income at HSBC, and Danny Blanchflower, former Bank of England Monetary Policy Committee member and a Professor of Economics at Dartmouth College. (Source: Bloomberg)
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