The Bank of Canada’s rate increase provides a setback to the Canadian housing market. Higher borrowing costs are expected to put additional pressure on homeowners, particularly those with variable-rate mortgages or upcoming renewals, with some borrowers potentially facing payment increases of roughly 50%. The central bank projects housing will contribute virtually nothing to economic growth through 2028, raising concerns that Canada’s housing downturn, which began in 2022, could become one of the longest in decades.
You might also like
Featured___LZSettings_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-sDeADNh8xD+DVwoGNBrwAAkINIRPqfGBUrBRJivbhUNIYAJiKZzJZCXCEQBfAQyOQAYVpvkpQPGqgQZAgegbxIEir0lnbaBsUx7An5EDZWEkkPwjGIhDIVVCNcYoXYlXYrEY7B86vY-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
