A new report from insolvency firm MNP LTD. says more Canadians are facing a deteriorating debt situation, as high costs and elevated interest rates make it harder to pay the bills.
It’s great at keeping banks from collapsing, but terrible for the consumer.
But now we’re at the point where something has to give and the government is desperately trying to force the banks to not increase payments by increasing amortization periods, keeping cash on hand, and increasing their insurance…
Wow, that’s ridiculous! So you have no idea what your mortgage is going to be from semi-decade to the next. Fucking crazy.
It’s great at keeping banks from collapsing, but terrible for the consumer.
But now we’re at the point where something has to give and the government is desperately trying to force the banks to not increase payments by increasing amortization periods, keeping cash on hand, and increasing their insurance…