Borrowers at TD, BMO, CIBC see their mortgages balloon due to sharp rise in interest rates

Three major Canadian banks are showing that about 20 per cent of their residential mortgage borrowers – representing nearly $130-billion in loans – are seeing their balances grow as their monthly payments no longer cover all the interest they owe. These borrowers at Bank of Montreal ,…#bankofmontreal #torontodominionbank #bmo #jeffroman #samanthagrant #cibc #bankofcanadas #mikerizvanovic #piyushagrawal #michaelrhodes

Source: Reuters: Health - August 31, 2023 Category: Consumer Health News Source Type: news