Rising interest rate impact
A new Yahoo Canada/ Maru Public Opinion poll finds one-third (35%) of homeowners with a financial encumbrance attached to their residence don’t believe they’ll be able to ride out the latest Bank of Canada prime lending rate hike to 4.50% for an average of any more than 9.7 months before they are forced to sell or vacate their home for another arrangement—less so for those with either a variable/adjustable mortgage (8.3 months) or a line of credit (8.3 months) on their home.