Bond yields are moving higher once again as the sovereign debt bubble gets pushed to the brink. The Bank of Canada says no is not the time to let up on raising interest rates, expect another 50bps on October 26th. This means we could be looking at mortgage rates of 6% in Canada come November, and a mortgage stress test of 8%. National house price are down 14% since peaking in March, the largest decline since the index was created in 2005.
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6 сен 2024