A Big Shock Canadians Feel Squeezed By Bank Of Canada Rate Hikes National
In January, the 30-year-old marketing and communications manager was paying about $1,600 a month on the variable-rate mortgage she has on her downtown Toronto apartment. Now, that monthly payment will be almost $2,000. “It was a big shock and a big change for me personally,” he told Global News Wednesday, shortly after the announcement by the central bank, which added about $200 to its payments alone. “I also manage the mortgage myself, so all of these payments come out of my paycheck....