Apr
30
Jumping Mortgage Rates Further Tighten Debt Vise for Canadians
By-
Almost 50% of existing mortgages are up for renewal in 2018
-
Households set to feel pinch of higher rates, economist warns
The indefatigable ability of Canadians to shoulder an ever increasing mountain of debtis being tested.
The country’s biggest banks began raising key borrowing rates last week, just as the busy season for residential real estate gets underway. In addition, the mortgage market looks set for a particularly heavy year of renewals in an environment where debt-servicing costs are already rising at the fastest pace in a decade…
