Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Thursday, March 29, 2012

Canada Mortgage Debt: BMO Survey Suggests Half Of Homeowners Fear 2 Per Cent Rate Hike

TORONTO - A Bank of Montreal study finds more than 40 per cent of Canadians surveyed are unsure about their ability to afford their homes in the case of a two per cent interest rate hike.

The survey, compiled for BMO by Leger Marketing, found 43 per cent believe an interest hike would either hamper their ability to pay or leave them on unsure footing.

But the report also found 57 per cent of respondents believe they could still afford their home if interest rates spiked two per cent.

The survey results come as some of Canada's biggest banks begin raising variable mortgage rates, even though the Bank of Canada's overnight interest rate remains unchanged.

That could signal the era of cheap borrowing that has encouraged many Canadians to take on houses they may not have been able to otherwise afford.

BMO anticipates that the Bank of Canada will begin increasing interest rates from the current one per cent next year.

Original Article
Source: Huff
Author: Canadian Press

No comments:

Post a Comment