Quote:
Originally Posted by calgarygeologist
The mortgage component of inflation is going to skyrocket in 2024 and 2025 as almost half of the mortgages in Canada, 2.2 million mortgages, come up for renewal. Many of those are super low rate, pandemic mortgages and the new interest rates will be two or three times higher this renewal.
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Not to be rude, but I've heard that a few times and my ignorant self is saying, "so what"? I renewed back in May. What difference does it make if those with renewals coming up also have to renew at a high rate?