More Canadians struggling with monthly mortgage payment: Angus Reid survey
BNN Bloomberg
A new study says the number of Canadians struggling with their monthly mortgage payment is on the rise, along with worries of potentially higher payments when it comes time to renew with their bank.
A new study says the number of Canadians struggling with their monthly mortgage payment is on the rise, along with worries of potentially higher payments when it comes time to renew with their bank.
Data released Monday by the Angus Reid Institute shows 15 per cent of mortgage holders say they find the financial aspect of their mortgage "very difficult," up from eight per cent in March and 11 per cent in June.
The survey says that despite expectations the Bank of Canada will hold its key interest rate steady at five per cent when it announces its next decision Wednesday, the current level has 79 per cent of respondents worried or very worried they will face higher payments when it comes time to renew their mortgage.
