/biz/ - Business & Finance

Over 30% of mortgages in Canada have hit their trigger rate. They are paying nothing but interest and are extending their amortization to keep their monthly payment the same. This is why attached screenshot shows many mortgages are now >30 years. This can only last until they have to renew, at which point, either something gives or the banks invent some new way of indebted these people for generations to keep the house of cards up.