A new report released today by BMO revealed that the majority of Canadian households are ‘stress-tested’ against the possibility of rising interest rates, with Albertans responding the most favourably.
Some survey highlights:
- The majority of Canadian homeowners (57%) say that they could still afford their home if interest rates were to climb by 2%
- However, one-in-five (20%) indicated that a 2% rise in rates would hamper their ability to afford their home; 23% indicated they were unsure if a rise in rates would affect them.
Regionally, the report revealed:
You can read the entire release here