Bleak Outlook From The BoC: Fixed-rate Borrowers Face up to 20% Payment Hikes at Renewal
Bank of Canada data shows fixed-rate borrowers face the steepest payment hikes this year and next, but not all mortgage holders are in the same boat Mortgage holders with 5-year, fixed-rate terms renewing in 2025 or 2026 are expected to face the sharpest payment increases, according to new Bank of Canada research. On average, this group could…
