Canadian banks need to take steps to assist mortgage holders who are struggling to stay above water after a rapid spike in interest rates, according to new guidelines issued Wednesday.
Canadian banks need to take steps to assist mortgage holders who are struggling to stay above water after a rapid spike in interest rates, according to new guidelines issued Wednesday.
We need to treat primary residence mortgages like taxes. I get the increase in borrowing rates to prevent people from buying things to combat inflation, but it really doesn’t help the cost of living crisis when you price having a place to live out of many Canadians’ budgets.
That’s what I don’t get. Can’t they subsidize lower rates for mortgages on primary residences?