Property News · July 23, 2018

Canadians feel little pain of rate hikes – so far


Canadian consumers are feeling little pain from four rate hikes by the Bank of Canada, despite all warnings to the contrary, with most escaping higher monthly mortgage costs, others priced out of home buying altogether, and many enjoying income gains.
Data released on Friday showed retail sales rose 2 per cent in May and are on track to expand at an annualised pace of about 4 per cent in the second quarter, defying predictions that rising interest rates would douse the long consumer boom.
While…

Source : South China Morning Post
Read more…Canadians feel little pain of rate hikes – so far

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