How much debt is too much? Canadians are taking advantage of low interest rates by leveraging their homes and taking out second mortgages.
Report on Business magazine asked our crack editorial research team, led by chief librarian Celia Donnelly, to perform a few land title searches and sift through the mortgage terms on several properties located in a recently built Toronto neighbourhood. What did we find? It appeared that even our seemingly well-heeled neighbours own a lot less of their houses than you might think.
Globe Investor's personal finance columnist Rob Carrick took questions about the pros and cons of leveraging your mortgage. Rob Carrick has been writing about personal finance, business and economics for close to 20 years. He joined The Globe and Mail in late 1996 as an investment reporter and has been personal finance columnist since November 1998. His latest book, Rob Carrick's Guide to What’s Good, Bad and Downright Awful in Canadian Investments Today, has just been published by Doubleday Canada.
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