RBC warns that most Canadians with mortgages will face payment shock in the near future.
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Payment Shock Coming for Most Canadians With Mortgages, RBC SaysWith 60% of Canadian mortgages set to come up for renewal within the next three years, homeowners are facing a “payment shock” unless interest rates come down in a significant way, according to Royal Bank of Canada.
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RBC Capital Market's Report Warns of Mortgage Payment Shock in Canadian BanksRBC Capital Market's bank research team predicts a significant increase in mortgage payments in the next three years, posing a risk to Canadian banks. Unless interest rates decline, credit losses are expected to rise in 2025 and beyond.
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Young Canadians more anxious about debt, more likely to miss a bill payment, Equifax saysIn a survey conducted in September, Equifax Canada says 36% of younger adults reported having missed a bill payment this year, compared with 23% overall
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Young Canadians more anxious about debt, more likely to miss a bill payment: EquifaxEquifax Canada says young Canadians are more anxious about their personal debt and more likely to have missed a bill payment this year.
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Young Canadians more anxious about debt, more likely to miss a bill payment: EquifaxEquifax Canada says young Canadians are more anxious about their personal debt and more likely to have missed a bill payment this year.
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Young Canadians more anxious about debt, more likely to miss a bill payment: EquifaxTORONTO — Equifax Canada says young Canadians are more anxious about their personal debt and more likely to have missed a bill payment this year.
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