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Rate Increases A Concern, But Many Borrowers Say They Can Handle It: RBC

Danielle Kubes
Publication date:
March 23, 2022
Article Summary: 

A recent survey by RBC has found that 60% of mortgage holders in Canada are concerned about rising interest rates in the coming year. However, almost half of borrowers (47%) say they or their families are "well-positioned" to weather increases in interest rates. The survey also found that inflation is a growing concern among borrowers, with almost half of respondents worried about the impact inflation will have on their ability to purchase a home, while 54% are concerned it will affect their ability to cover the costs of owning a home. The average home price in Canada was $816,720 in February 2022, up 20.6% from the same month last year and a 51% increase compared to two years ago. The rising house prices are causing growing frustration among prospective homebuyers.


survey, RBC, mortgage holders, Canada, interest rates, borrowers, inflation, home purchase, home ownership, home prices, frustration, prospective homebuyers.

Source Citation: 
Danielle Kubes
Rate Increases A Concern, But Many Borrowers Say They Can Handle It: RBC
March 23, 2022
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