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The Latest in Mortgage News: Recent hikes are “painful” for variable-rate mortgage borrowers, says BoC
Author:
Steve Huebl
Publication date:
November 23, 2022
Article Summary:
The article titled "The Latest in Mortgage News: Recent Hikes Are Painful for Variable Rate Mortgage Borrowers, Says BoC" highlights the impact of recent interest rate hikes on borrowers with variable rate mortgages. The Bank of Canada (BoC) acknowledges that these increases can be challenging and burdensome for borrowers, as their mortgage payments rise accordingly. The article explores the reasons behind the rate hikes, including inflationary pressures and economic factors. It emphasizes the importance of evaluating mortgage options and considering the potential risks when opting for variable rate mortgages.
Keywords:
Latest, Mortgage news, Recent hikes, Painful, Variable rate mortgage borrowers, BoC, Bank of Canada, Interest rate hikes, Borrowers, Mortgage payments, Inflationary pressures, Economic factors, Evaluating mortgage options, Risks, Variable rate mortgages.
Source Citation:
Steve Huebl
The Latest in Mortgage News: Recent hikes are “painful” for variable-rate mortgage borrowers, says BoC
November 23, 2022
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