Who would you vote as the Prime Minister in this Federal election on April 28th, 2025?

Please be advised that this site is not affiliated with the Service Canada office.
It was created to provide general EI information only.

 

The Canadian Press
Published Monday, June 13, 2022 12:31PM EDT

Nearly one in four homeowners say they will have to sell their home if interest rates go up further, according to a new debt survey from Manulife Bank of Canada.

The survey, conducted between April 14 and April 20, also found that 18 per cent of homeowners polled are already at a stage where they can’t afford their homes.

Over one in five Canadians expect rising interest rates to have a “significant negative impact” on their overall mortgage, debt and financial situation, the survey found.

The Bank of Canada remains on a rate-hike path as it tries to tame inflation, which is now at a 31-year high at 6.8 per cent. On June 1, the central bank increased its key interest rate by half a percentage point to 1.5 per cent.

The Manulife survey also found that two-thirds of Canadians do not view home ownership as affordable in their local community.

Additionally, close to half of indebted Canadians say debt is impacting their mental health, and almost 50 per cent of Canadians say they would struggle to handle surprise expenses.

This report by The Canadian Press was first published June 13, 2022.

source: https://www.cp24.com/news/nearly-1-in-4-homeowners-would-have-to-sell-home-if-interest-rates-rise-more-survey-suggests-1.5944600?fbclid=IwAR2W0RrqTsM8S70zhcxXVxtF9VnI8QECS4hv5fkbjqjQWhGyHMRmhAAZ48E

Looking for affordable, reliable dental coverage in Canada? Visit DentalCarePlanCanada.ca to explore flexible dental care plans designed to fit your needs and budget. Whether you’re an individual, family, or senior, our plans offer peace of mind and help you save on essential dental services. Don’t wait—your smile deserves the best care at the best price!

Need a Canadian passport or looking to renew one hassle-free? Visit ServiceCanadaPassport.ca for easy-to-follow guidance, step-by-step application support, and the latest updates on passport services across Canada. Save time, avoid confusion, and get everything you need in one convenient place!

* * * * Most viewed topics * * * *

Renew Your Canadian Dental Care Plan Coverage *(new)

2025 Canada Child Benefit payment dates

2025 CPP/OAS payment dates

Check the status of my Canadian passport application

How to renew your expired Canadian passport?

8 easy steps to contact EI call centre agent