Canadian Mortgage Borrowers Are Betting Against Rising Rates, Despite Warnings
In the upside-down world, a weak economy is great for Canadian home prices — and people are betting on it. The majority of mortgage debt issued in August has a variable interest rate. This is when a borrower’s interest paid is attached to market rates, as opposed to a fixed rate. Experts, including the central bank, are warning rates will begin to make a sharp rise next year. Whether homeowners realize it, they’re betting experts are wrong about the recovery.
Original Article Source Credits: Better Dwelling, https://betterdwelling.com/
Article Written By: Daniel Wong
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