Canadian banks need to take steps to assist mortgage holders who are struggling to stay above water after a rapid spike in interest rates, according to new guidelines issued Wednesday.

  • Phil_in_here@lemmy.ca
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    1 year ago

    We need to treat primary residence mortgages like taxes. I get the increase in borrowing rates to prevent people from buying things to combat inflation, but it really doesn’t help the cost of living crisis when you price having a place to live out of many Canadians’ budgets.