The fiscal policy of the current government and endless nonsense spending has fuelled these rate hikes to control inflation as the media says. Well, here is the thing, interest rates for housing and borrowing have been all time low; because as each 3/4 point hike builds, homes truly do become unaffordable or attainable to most. Most importantly these rate hikes hit Canadian's extremely hard.
I feel bad for those who are going to be hit hard by this and the new generations of homebuyers entering the market.
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