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Canada Adds Guidelines for Banks to Prevent Mortgage Defaults
(www.bnnbloomberg.ca)
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this post was submitted on 07 Jul 2023
44 points (97.8% liked)
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We need to treat primary residence mortgages like taxes. I get the increase in borrowing rates to prevent people from buying things to combat inflation, but it really doesn't help the cost of living crisis when you price having a place to live out of many Canadians' budgets.
That's what I don't get. Can't they subsidize lower rates for mortgages on primary residences?