But these mortgages still may not make sense for many Canadians, who on average hold on to a mortgage for just 33 months, she added.
The typical borrower renewing this year will see their mortgage rate rise by just 0.2 percentage points, National Bank Financial said in“As a result, the potential payment shock for homeowners set to renew their mortgage this year has almost vanished,” senior economist Matthieu Arseneau wrote.showed improvement in the first quarter of this year, the first time housing in Canada became more affordable in seven quarters.
And this is the problem with ridiculously low interest rates, people buy more than they can afford, investments don't grow, house prices rise uncontrollably, debt becomes unmanageable, but your right some nice people got a cheap mortgage.