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Interest rates on the rise soon!

Are you familiar with our Mortgage rules and policies?

Last week, Bank of Canada governor Stephen Poloz said that despite the latest decision to hold the benchmark figure at 1.75%, interest rates would still need to rise as soon as the various pressures suppressing economic growth ease.

Many Canadian consumers have admitted to being unfamiliar of the multiple rules and policies that govern their capability to purchase homes, according to a new TD study. The poll, which surveyed 1,901 owners and hopeful buyers nationwide, found that an alarming 81% of Canadians professed a lack of understanding on how a potential mortgage rate hike will affect their finances.Full Article Link