Mortgage Debt Could Weigh Down Economy When Interest Rates Rise

Mortgage Debt Could Weigh Down Economy When Interest Rates Rise
The Bank of Canada in Ottawa on Dec. 15, 2020. The Canadian Press/Sean Kilpatrick
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News Analysis

Canada’s major banks, institutional investors, and homebuyers took on more risk than normal during a prolonged period of low interest rates, a distortion that may have a cruel correction as interest rates rise to curb inflation and some households struggle to handle higher servicing costs on their mortgages.

Lee Harding
Lee Harding
Author
Lee Harding is a journalist and think tank researcher based in Saskatchewan, and a contributor to The Epoch Times.
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