Mr. Speaker, Canadians have been quite responsive to the suggestions by government and others that they curtail their borrowing and not borrow more than they can afford at higher interest rates. This is just rational. Canadians are rational, particularly when it comes to residential mortgages. We have seen some moderation in that market, which is good. We have also seen some moderation on the consumer debt side, which is also helpful.
In the House of Commons on February 12th, 2013. See this statement in context.