Stephen Harper has spoken about the level of household debt and the strength of the Canadian housing market. In an interview on 570 News Kitchener the prime minister said: “I know everybody points out that debt levels, mortgage borrowing are way up. It’s up because interest rates are low. Asset levels relative to income are actually way up in this country.” He went on to say that the level of mortgage delinquencies is low and that although some people may be overextended, generally the market is strong. Mr Harper enthused that the level of home ownership in Canada is high, driven by the low interest rates.
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