Friday, February 25, 2011

Stress Test Your Mortgage

Stress Test Your Mortgage
Nearly 20 per cent of Canadians don't know if they'll be able to make their mortgage payments if interest rates increase, according to a poll released Thursday by Bank of Montreal — disturbing findings given that BMO expects the Bank of Canada to raise its benchmark rate by at least one per cent by the end of the year. "Despite high prices, housing remains reasonably affordable due to record low interest rates," said Sal Guatieri, BMO Economics.

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