Skip links

Mortgage payments set to jump $400 a month, but Canadians can cope, say banks

Big bank CEOs are confident that the upcoming mortgage interest rate hikes won't cause financial distress for Canadians. They expect an average increase of $400 per month for mortgage payments, but believe that Canadians can handle it due to savings, higher wages, and reduced spending. The CEOs also anticipate a decline in interest rates by 2025-2026, which should benefit mortgage borrowers.

Continue to full article

Leave a comment