RE:RE:RE:RE:Royal Lepage Says Canadian Housing Market “Hot” Ltv refers to "loan to value"; for instance, your mortgage is $800k and your home is worth $1m.
Your "loan" is $800k and your "value" is $1m or 80%.
Btw, for the people that purchased in 2021 and 2022, they are negative amortizing at the moment. This refers to your mortgage payments not even covering your total interest so they just add it back to your principal. When these people renew their mortgages, their debt owed will be more even after all these years of payments. They will simply walk away because they have no "equity" in their homes, especially those that had purchased with a higher Ltv ratio.
Canada has over $2 trillion in mortgage debt which is right around gdp levels for the economy. That is absolutely insane.