Mortgage Rate Increase? Toronto, Canada

What happens if/when the mortgage rates go up by just 1%?  A Great Video from Global News with breakdown of mortgage costs and how it could affect the Toronto HomeOwner.

He says that Canadians spend apprx. 165% of after tax income servicing debt!, with 70cents/dollar on mortgage alone. Wow…Is this a bit alarmist or current reality? Time to sell the house?

Christine Ng    tochristineng@gmail.com