The Royal Bank of Canada raises concerns about Canadian homeowners facing potential payment shocks, especially as 60% of Canadian mortgages are set to renew within the next three years.
The Royal Bank of Canada is warning that Canadian homeowners could experience a payment shock unless interest rates significantly decrease.
60% of Canadian mortgages will renew within the next three years.
Central banks are trapped.
Very easy to see.
— Gold Telegraph ⚡ (@GoldTelegraph_) October 30, 2023
THE BIGGEST CHUNK WILL BE IN 2026
WHEN 400 BILLION IN MORTGAGES WILL COME UP FOR RENEWALTHIS INCLUDES A LARGE PORTION OF THE NEGATIVELY AMORTIZING MORTGAGES
IF INTEREST RATES DONT GO DOWN BY THEN PEOPLE WITH VARIABLE RATE MORTGAGES WILL SEE THEIR PAYMENTS GO UP BY 90% PER RBC pic.twitter.com/aN42HovTKq
— GURGAVIN (@gurgavin) October 30, 2023
FOR THOSE ASKING MY TOP PICK LIKE ALWAYS FOR CANADIAN BANKS IS RBC $RY
ANALYST SEEM TO ALSO AGREE WITH ME pic.twitter.com/v701SfwAlw
— GURGAVIN (@gurgavin) October 30, 2023
Canadian banks continue to push lows $CM $BNS $TD $RY $BMO pic.twitter.com/NEB7UNWNXF
— FadeToBlack (@F4DE2BL4CK) October 24, 2023