A lower mortgage cost is only one part of affordability
By YorkNine editorial team ·
In her October 1 remarks, Carolyn Rogers explained the trade-off: cheaper borrowing can help buyers, while constrained supply can put upward pressure on prices.
The affordability trade-off
In October 1 remarks, Bank of Canada Senior Deputy Governor Carolyn Rogers said interest rates cannot directly solve housing supply constraints. Lower borrowing costs can help, but stronger demand can also raise prices when supply is limited.
These were remarks about housing affordability, not a new policy-rate decision or a retail mortgage offer.
Make it personal
For your next move, compare your actual lender quote, ongoing ownership costs and cash buffer. A national headline cannot establish your qualification or payment.
Read the Bank’s original remarks.
Your next question: What monthly ownership cost leaves enough room for the rest of your life?
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