Analysts show concern at high Canadian household debt

Analysts have expressed concern in a new poll over the rising levels of debt held by Canadian households. With low interest rates fueling borrowing and house prices on the rise the Reuters poll found that there are still a lot of economists worried that there will be a price correction and send thousands underwater. Economists at CIBC, National Bank and Moody’s all responded to the poll with concern that growth in the economy, especially in Alberta, will be down this year and house prices may slump. The analysts are already talking of the next move on interest rates being an increase, which would add additional pressure to borrowers.

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