Survey found three in 10 Canadian homeowners report difficulty paying mortgage, rising to 51 per cent among those paying variable rates
This advertisement has not loaded yet, but your article continues below.• Nearly one in five homeowners say they would lose money if they had to sell, rising to 24 per cent among those whose mortgage is for 25 years or more.
• Unsurprisingly, it is those with variable-rate mortgages who are struggling most as lending rates have risen from roughly one per cent to over five per cent since the start of last year. They’re most likely to say they’ve cut back in other areas of their lives, such as delaying major purchases or not contributing to savings.
• Renters tend to be younger than homeowners in general, with the highest proportion between the ages of 18 and 34. Overall, two-thirds of all the adults polled owned their home.
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