Mortgage resets next year expected to cut into spending
Recommendations echo affordability measures in government's fall economic statement
Fourth straight weekly drop for the rate, which a year ago averaged 6.58%
HELOC balances declined, mortgage growth slowed in September
Rate cuts to start materializing by mid-year
Across advanced economies, lending demand slowed sharply
Capital requirements to grow, profits under pressure for mortgage insurers
Credit card balances also swelled, while HELOCs shank, the agency said
Real estate industry is likely breathing a sigh of relief that Canada's banking regulator may not move ahead with lending tightening
Finance also announced measures to tackle bank fees and mortgage relief