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Canadian banks are expected to report softer financial results in the second quarter due to high borrowing costs faced by homeowners who took out mortgages when rates were low. Ottawa's heavy borrowing without locking in low rates is causing refinancing challenges, with the banking watchdog warning of a housing-payment shock by 2026.
Canadian bank regulator warns of housing-payment shock by 2026 https://t.co/G8TAcCoUlE https://t.co/dX44HxCyR6
Canada’s largest banks are expected to report softer financial results in the second quarter, as high borrowing costs continue to burden Canadians facing debt. https://t.co/2BDPY7QFD7
Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero will soon face a reckoning https://t.co/rhidnYG6Qy