British Columbia Interest Rates And The Housing Bubble

Night view of Vancouver port, downtown lighting up the streets and water

As the real estate market in British Columbia continues to create demand and increase property value and interest rates sit at rock bottom prices, many home and investment property owners throughout the province have allowed themselves indulgent consumer spending based on the certainty of having value in real estate to fall back on. Thousands have turned to credit reliance to accommodate their spending habits. One thing British Columbians may not have considered however, is what would happen to their monthly mortgage payments if interest rates were to rise. MNP’s recent Consumer Debt Sentiment Survey showed that nearly 50 per cent of those carrying mortgages would be concerned about their ability to make mortgage payments if interest rates were to rise. If this resonates with you and the amount of debt you are carrying could impact your mortgage security, it’s probably time to tighten up the purse strings.

The MNP Consumer Debt Sentiment Survey was conducted by Ipsos Reid on behalf of MNP. News1130 covered the survey in an original article originally posted online at News1130 on October 16, 2016.

Latest Blog Posts

2025-01-16

What happens to my savings account during a Consumer Proposal?

John Haralovich

MNP Consumer Debt Index

What happens to your savings account during a Consumer Proposal? Learn about the factors impacting what happens to the funds in your savings account.

Read More

2025-01-13

Escalating financial concerns in Alberta: Nearly three in five fear they can't repay debts despite interest rate cuts, worries over job loss and Bankruptcy increase

Lindsay Burchill

MNP Consumer Debt Index

Albertans are feeling more pessimistic about their personal finances heading into 2025, despite declining interest rates.

Read More

2025-01-13

MNP Consumer Debt Index plunges to 79 points, the second-lowest level ever recorded

Grant Bazian

MNP Consumer Debt Index

The latest MNP Consumer Debt Index has dropped to 79 points, a staggering 10-point decline from last quarter.


Read More

Consultation icon