By The Canadian Press, June 13, 2017 

TORONTO – Canada’s federal housing agency says the average scheduled monthly mortgage payment for new loans climbed to $1,328 in the fourth quarter of 2016, up 4.6 per cent from $1,269 a year ago.

The increase came as house prices continued to rise, particularly in the cities of Toronto and Vancouver and their surrounding areas.

Canada Mortgage and Housing Corp. says the fact that the average scheduled monthly payment is growing faster than inflation is concerning because it suggests that homeowners could struggle to make their payments going forward.

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