Bank of Canada raises its interest rate to 5%

Re:Bank of Canada raises its interest rate to 5% by voisin on Wednesday July 12, 2023 @03:16PM (#36700225)

Canadians can’t walk away from their mortgages the same way as Americans. Mortgages are recourse to all your assets.

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Re:Bank of Canada raises its interest rate to 5% by oliwarner on Wednesday July 12, 2023 @05:47PM (#36702136)

Canadians can file for bankruptcy. That's essentially the at-scale risk of what we're talking about here.

The IMF says Canada is the highest risk market for this collapse right now too. It's going to be a rocky few years.

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