US EditionMortgage renewals will strain Canadians, but most will manage: TD report
- Mortgage renewals are expected to strain Canadian households, according to a report by TD Bank.
- Maria Solovieva states that borrowers who locked in low rates in 2020 will renew at higher rates and payments.
- Mortgage interest payments declined by an average of 1.7 percent over the last two quarters, resulting in a contraction in total mortgage payments.
- Delinquency rates for non-mortgage borrowers are climbing quickly, indicating a concerning trend in this segment.
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Prince George Citizen+15 Reposted by 15 other sources
Mortgage renewals will strain Canadians, but most will manage: TD report
TORONTO — A report by TD Bank suggests mortgage renewals are expected to strain Canadian households, but most borrowers will manage albeit with less financial flexibility.
·Prince George, Canada
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Total News Sources17
Leaning Left5Leaning Right2Center1Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
13%
R 25%
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