Canadian homeowners don’t think they’ll be mortgage-free until they’re 57: CIBC

TORONTO – The average Canadian homeowner doesn’t think they’ll be mortgage-free until they’re 57 — two years longer than what they expected last year, a survey by CIBC suggests (TSX:CM).

The survey also found that half of those surveyed said other debt, from credit cards to lines of credit, have increased and impeded their ability to pay off their mortgage more quickly.

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CIBC report warns that mismatch in job market affecting economic growth

TORONTO – A CIBC report released Monday suggests Canada’s economic prosperity is at risk due to a labour market split that sees high-demand positions go unfilled while lower-skilled workers languish in unemployment.

“We have people without jobs and jobs without people,” said author and deputy economist Benjamin Tal.

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