Posthaste: How Canada could have avoided the mortgage payment shock now ripping through the economy [Financial Post (Toronto, Ontario, Canada)]
Centerra Gold Inc. Common Shares (CGAU)
Company Research
Source: Financial Post
Canada ranks among the countries hardest hit by higher interest rates in the developed world, but a new report says it didn't have to be that way. Article content Since the Bank of Canada began hiking rates in 2022, the debt-servicing ratio of Canadian households has soared to one of the highest among the advanced economies. But if longer mortgage terms had been more prevalent and attractive, the payment shock would have been much more manageable, the report by the Fédération des caisses Desjardins du Québec said. Article content Right now, Canada's mortgage market is concentrated in fixed-rate mortgages of up to five years. Longer terms do exist, but they are a tiny fraction of the market. Meanwhile, borrowers in the United States were able to lock in historically low rates during the pandemic for 30 years. Canadian borrowers who took out a mortgage at those rates have already had to renew at much higher rates or will have to do so in the next two years. With Canadian ho
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CGAU
Sec Filings
- 5/14/24 - Form 6-K
- 5/14/24 - Form 6-K
- 5/14/24 - Form 6-K
- CGAU's page on the SEC website