In a new Leger survey, 68 per cent of respondents between 18 and 34 years of age with a mortgage say they are very or somewhat financially stressed about their mortgages, compared with 62 per cent across all homeowners.
Four out of 10 Canadians surveyed by Leger said they think the Bank of Canada should be cautious as it lowers interest rates, but another third think it’s not going fast enough. Though the steep rise in interest rates has brought inflation within reach of the Bank of Canada’s two per cent target, it has put pressure on Canadian households and weighed on the economy.Of those with fixed-rate mortgages, 43 per cent say their mortgage is up for renewal this year or next year.
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