Canadians reveal how the Bank of Canada's latest interest rate hike will affect them
the biggest interest rate hike in decades aimed at tempering rising inflation, Canadians have been assessing the impact on their purchase decisions and financial futures.Canadians what impact the unexpectedly large rate hike will have on their lives.
Kevan Spice, another homeowner from Alberta, emailed to say that the interest rate increase is driving him to a financial “breaking point.” Another Canadian homeowner, Tjreddy Pierrefonds, who did not disclose a location, wrote that costs towards vacations, home improvements and entertainment expenses now need to be cut to offset the increase in payment.'POSITIVE' IMPACTS:
“I'm not a homeowner and my business does not own our space, and lately there's been no hope of that ever changing,” he wrote to CTVNews.ca. “The only place where my money has had any chance of growth for several years now has been the markets, which have now tanked and wiped out a significant amount of my wealth. The pandemic has crippled my business substantially and we haven't come close to bouncing back yet .
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BoC interest rate hike will have a 'dramatic effect' on Canadians, especially homeowners: economistThe Bank of Canada’s aggressive one per cent rate increase on Wednesday caught many by surprise and will likely have a considerable financial impact for many Canadians, says one economist.
Read more »
Morning Update: BoC’s interest-rate hike expected to further dampen housing marketHousing prices have been dropping since the central bank started its series of rate increases this March
Read more »
How does the Bank of Canada’s interest rate hike affect variable rate mortgages?Here’s everything you need to know about variable rate mortgages, fixed rate mortgages, and how Canadian homeowners will be impacted by rising interest rates
Read more »
How will the Bank of Canada interest rate hike affect your life?What impact will the Bank of Canada's interest rate hike have on your life? Please email us at dotcombellmedia.ca with your name, location and contact information. Your comments may be used in a CTVNews.ca story.
Read more »
‘A big shock’: Canadians feeling squeezed by Bank of Canada’s interest rate hikes - National | Globalnews.caWednesday's surprise Bank of Canada one per cent interest rate hike is putting continued pressure on homeowners who are seeing increases to their mortgage payments.
Read more »
Canadian dollar falls to a 20-month low after supersized interest rate hikeThe loonie hit a 20-month low, one day after the Bank of Canada announced its largest interest rate hike since 1998.
Read more »