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Yes, banks take advantage of borrowers who are pressured by higher rates.  But there's more to the story

Yes, banks take advantage of borrowers who are pressured by higher rates. But there’s more to the story

December 7 will be a good day for Canadian banking. The Bank of Canada has the opportunity to adjust its overnight rate on that day, and an increase of 0.25 to 0.5 percentage points is widely expected. Like flipping a switch, banks would replicate this increase in their prime rate and, in turn, variable rate …

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High interest rates are an attack on young Canadians

High interest rates are an attack on young Canadians

Young homeowners are perfectly positioned to derive virtually no benefit from higher rates, even though they have the maximum exposure to rising borrowing costs.COLE BURSTON/The Canadian Press It is impossible for interest rates to rise sharply without a high degree of inequity in the way people are affected. Take borrowers and savers, for example. If …

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