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Bank of Canada raises its interest rate to 5%
(www.cbc.ca)
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this post was submitted on 12 Jul 2023
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In 2020 I locked in at 1.79%. 2025 is going to be about a 1.5k mortage payment hike if things stay the same. Luckily I moved to a cheaper area and reduced my mortage and will be paying extra for the next 2 years. Even with all that this is gonna hurt!
I renew next August
RIP me.