British Columbians took out the fewest number of new mortgages in 2023 relative to other Canadians, according to a new report.
The report also highlights the effect of high interest rates, which are expected to drop this year. Just over 80 per cent of mortgage holders — up from 75 per cent in 2023 - said they felt the pinch of higher interest rates, which peaked May 2023 and Jan. 2024. This, however, does not mean that Canadians, especially British Columbians, are not experiencing financial strain.
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