found that more than half of Canadians are nervous about being able to afford their mortgage payments as interest rates rise. But many are still not budgeting for them.
Surveying 1,590 adults between July 28 and Aug. 8, it found that budgeting is popular among Canadians, with 67 per cent of respondents reporting finding budgets helpful to manage their monthly cash flow. "In many cases, monthly mortgage payments, along with taxes, account for one of the largest monthly expenses Canadians face," Alana Riley, head of mortgage, insurance and banking at IG Wealth Management, said in a release.
WEF Approved!
'Many Canadians are concerned about rising mortgage rates but aren't budgeting for them' These Cdns will lose their house. The coming recession may cost them their jobs. Let's make sure they put the blame where it belongs -trudeau/jagmeet
Why would they? They expect the liberals to bail them out. Unfortunately, they probably will.
Budgeting for them? Just before covid you were throwing out stories every couple days how 50% of Canadians were $200 away from insolvency
1% hike means how much more people have to pay with say 500k mortgage.
Oh, dear... I wonder how many of us remember the early 1980's...Well Over 16%, folks. Brutal!!
Mortgages are somewhat affordable but boats, seadoos, motorcycles, new vehicles, snowmobiles, credit cards, not to mention necessities of life. It can change quick and most think it won’t.
Trudeau will fix everything
(Rios Bong) you can't budget with money you don't have
Good… keep spending, don’t stop Canadians.
With what money
When haven't Canadians been concerned about mortgage rates .
Too Big to Fail, the sequel.
If people didn’t buy houses well above the appraisal price and thought maybe it wouldn’t be a great time to buy a house in the first place.
Many Canadians did not expect to end up government of plunge us into the state.
Poor budgeting & planning. Gambling on low rates forever. Living beyond your means. Wasting $ on take out, new iPhones, lease car every 3 yrs. winter vacay. Financial death by 1000 self inflicted cuts. Work hard, sacrifice, save, move where you can afford Don't blame the system
Mainly because they can't, as they aren't paid enough to keep up with inflation. Eventually it catches up.
'The combination of rising interest rates and inflation is causing stress for many Canadians and in some cases tense dinner table conversations across the country,' Riley said. They should have used this graphic
So many live beyond their means.. then blame others when it goes south
Seriously? Between inflation, raising interest rates and the fast changing housing market/mortgage rules… how does one have the capacity to budget accordingly…? The balloon is still inflating…
Ctv is now sticking it to thw working class. Nice job guys. How much do crv employees get paid?
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »