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Bank of Canada warns of growing mortgage risks as home prices soar Add to ...

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Canada’s central bank is warning about “increased riskiness” in the mortgage industry as buyers, particularly in Toronto and Vancouver, stretch themselves financially to get a foothold in the housing market.

The share of new mortgages that topped 450 per cent of a borrower’s income hit 15 per cent last year, up from 12 per cent a year earlier, the Bank of Canada said in its financial system review.

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