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
