Younger homeowners in Canada more likely to be financially stressed, survey suggests

Roughly six in 10 Canadians with a mortgage are financially stressed, with younger homeowners more likely to be under pressure.

Last week, the Bank of Canada cut its key interest rate, offering some relief to borrowers after the central bank’s fight against inflation saw its key lending rate rise to a peak of five per cent. Respondents in households making more than $100,000 a year were more likely to say they support the central bank’s caution.

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