Alberta Better “Stress-Tested” Against Rising Mortgage Rates

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:

Stress-tested ATL QC ON MB/SK AB BC
Yes 50% 51% 58% 69% 73% 48%
No 19% 17% 20% 15% 13% 32%
Unsure 31% 32% 21% 16% 14% 20%

You can read the entire release here

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