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Originally Posted by bluejays
I don’t even know about that. There are three year variable mortgages taken in 2020 and 2021 and those have come up for renewal and those were lower. I’m not pushing for high rates or lower rates. Certainly lower rates help all of us, but in many ways I question certain logic that’s mentioned in the media. Plus I don’t think bank of Canada’s major purpose is to appease the mortgage market. Isn’t it primarily around investing in the country and when to attract foreign capital around imports and exports?
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The government and BoC are also likely to introduce a bunch of measures to increase amortization lengths. That should prevent a lot of defaults.