Many Canadians could be in for a major blow if mortgage rates rise or if unexpected home repairs enter the equation. What's more, one in 25 (4%) would consider selling their home if mortgage rates were to rise at all.
Canadian mortgage debt grew by $17.7B in April, the fastest pace in a decade.
Or will it just hurt first-time buyers even more?
This is a higher rate than during the 2016-2017 real estate boom.
"The single most compelling reason for first-time buyers to consider a pre-construction condominium is affordability."