According to a new Yahoo Canada and Maru Public Opinion poll, the current mortgage rate hikes are becoming unmanageable.
Among Variable rate mortgage holders
- 45% say they’ll be forced to sell in under nine months.
- 19% said they had to make drastic financial adjustments and lifestyle changes
- 29% said they are feeling very serious pressure but are doing what they can to get by
Among Fixed rate mortgage holders
- 35% said they’d be forced to sell or vacate in the next 10.4 months
- 11% making drastic financial changes
- 25% feel very serious pressure
Overall, 35% of Canadian homeowners say they won’t be able to handle the current Bank of Canada (BoC) policy rate for more than 10 months before selling.
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On average, we can save you almost $600.00 a month.
Contact us for an exact quote on how much you can save.
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Note: These numbers use best-case and worst-case scenarios to stress a point. Contact us directly to find out what your exact savings will be.
https://storeys.com/variable-mortgage-rate-holders-forced-to-sell/