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Risky debt habits amid rising rates spark mortgage concerns
A couple discusses buying a townhouse near $130,000 with a $13,000 down payment and potential mortgage of about $120,000. Experts at McLeod McLeod Young Weir warn rates will rise in 1988, with projections of a 104 percent prime rate and a 12 percent five year mortgage, stressing prudent debt reduction. They flag political risk from the NDP as a factor that could push rates higher and the dollar lower, potentially causing recession and unemployment.
MENTIONED IN THIS ARTICLE
McLeod Young Weir
David Adamo
Peter Martin
McLeod
Persian Gulf
U.S
Beaver Swamp
NDP
Canada