One result of tighter lending rules is that the people who actually are borrowing are financially resilient and able to carry their debts.An atrocious RRSP season for the investment industry may suggests Canadians are making some pretty smart personal-finance decisions right now.
The firm reports that net flows of money into long-term mutual funds and exchange-traded funds fell to $9.8-billion in the first three months of this year, down from $22-billion in the same period of 2018 and about $25-billion in 2017. The conclusion drawn by Mr. Cardone from these money trends is that people are paying down debt with money they would otherwise have invested. “If you talk to your average bank or credit union, they will tell you that this is a trend that is taking shape,” he said.
One result of tighter lending rules is that the people who actually are borrowing are financially resilient and able to carry their debts. It’s this particular group of borrowers that Mr. Tal says is paying off debt right now, not the most heavily indebted households.
globemoney I BET THEY VOTED CONSERVATIVE!!!
globemoney Why should they? The government hasn’t balanced their debts or reign in spending. And we now have a stable economy. What happens when another recession hits as predicted? No this government has been reckless and has NOT provided Canadian’s good role models.