Quote:
Originally Posted by MillerTime GFG
I think the BoC will have to tread carefully, given our debt levels are twice as high in Canada. We can't mirror the Feds.
Hoping we don't see 0.75 here too.
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Yeah, 30 year fixed rate mortgages make the US consumer much more insulated from rate hikes as well. Even among the people who take 5 year fixed roughly 20% of them come up for renewal every year, plus everyone who has variable is immediately affected.
By comparison if you have a 30 year mortgage in the US if interest rates go up you just keep it at the low rate until its paid off.