During the last decade, the average annual expansion of residential credit in Canada has been approximately?

The average annual expansion of residential credit in Canada has been approximately 7.9% over the last decade. This figure reflects the growing demand for housing and the accompanying increase in mortgage borrowing, which has been influenced by various factors, including low-interest rates, population growth, and rising housing prices. The substantial growth in residential credit indicates a robust real estate market, where consumers are increasingly seeking financing to purchase homes or refinance existing mortgages.

This context is important to understand the dynamics of the mortgage landscape in Canada, where credit expansion is closely tied to economic conditions and market confidence. While other figures may indicate different growth rates, they do not align with the documented trends observed in the last ten years of residential credit growth.