Around half of those interviewed feel that they are in a worse financial situation than last year 2022
Ottawa, Canada. The number of Canadians struggling with their monthly mortgage payment is increasing, as is concern about rising prices, according to a survey released by the Angus Reid Institute.
About 15 percent of borrowers say they find the financial aspect of their mortgage “very difficult,” up from 11 percent in June and eight percent in March, according to the survey.
Despite expectations that the Bank of Canada will hold its key interest rate steady at five per cent when it announces its next decision in the middle of this week, 79 per cent of respondents are worried or very worried about facing higher payments when must renew their commitment.
Angus Reid data also shows that around half of those interviewed feel they are in a worse financial position than last year, while 35 per cent expect to be in this position within a year.
The online survey was conducted from October 9 to 13 among a representative random sample of 1,878 Canadian adults.
(With information from Prensa Latina)
2023-10-24 02:18:35
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