RBC CEO Gord Nixon says Canadians have lower levels of household debt ‘underpinned’ by a more stable asset level than in the United States…

Canadian Association of Accredited Mortgage Professionals suggests Canadian lenders and borrowers are “being extremely prudent” with mortgage loans…


Canada’s biggest bank is keeping a close eye on rising household debt levels in this country, but believes that Canadian consumers are still in a more enviable position than their American cousins.

Gord Nixon, president and chief executive officer of Royal Bank of Canada, told an industry conference on Thursday that strength in the residential real-estate market is fuelling personal loan growth in Canada. That suggests that assets underlying household debt are “extremely different” between Canada and the United States.

Read the full article, “Canadians more cautious about debt than Americans” in the Toronto Star (Jan 14 2010).

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