Renters more ‘vulnerable’ than homeowners amid higher interest rates. Why? Global News
THE CANADIAN PRESS/Adrian Wyld
Canadians who rent their homes are more financially stressed than homeowners faced with higher mortgage rates, according to a new report from the Bank of Canada. Craig Lord of Global News reports that the Financial Stability Report for 2024, released Thursday, shows that overall signs of financial stress are rising back to normal levels after significant declines during the pandemic. Bank of Canada Governor Tiff Macklem said it’s typical for renters to be more vulnerable during times of high inflation because they often have lower incomes and less of a financial buffer.
