Mortgage Nightmare in Canada: Fitch predicts defaults to rise as economy comes off rails

The credit ratings agency fitch is now predicting that mortgage defaults will rise as the economy heads off the rails and into a recession. The article explains how mortgage payments are increasing and the stress on household balance sheets just keeps increasing.

Persisting inflation continues to weigh on household finances as well as sky-high household debt coupled with dwindling savings and credit card debt that just keeps increasing.

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