Could you handle your mortgage payments if interest rates went up by 1%?
Posted on
June 16, 2015
by
Ian Wisdom
In a recent survey by Manulife Bank of Canada over one thrid of people surveyed said that if their mortgage payments increased by 10% they would not be able to cope with the new payment. A 10% increase on mortgage payments on a $200,000 mortgage equates to just a 1% rise in interest rates.
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