Article Image

IPFS News Link • Canada

Three of Canada's largest banks are seeing ~20% of their outstanding mortgages...

• https://twitter.com, The Kobeissi Letter

What does this mean?

Monthly payments on ~20% of mortgages at BMO, TD, and CIBC are no longer enough to cover interest expense.

This means you end up owing more than your original loan amount over time.

Typically, variable rate mortgages with fixed payments experience this in a rapidly rising interest rate environment.

These homeowners may begin to foreclose over the next few months.

Important trend worth watching.


Home Grown Food