The Canadian Institute of Real Estate and Mortgage (Real Estate and Mortgage Institute of Canada) published survey data, which indicates that among borrowers there is a "mortgage malaise".
34% said they regret their current mortgage, 12% say they regret taking out a mortgage at a "bad rate". The consumer price index in July rose by 3.3% year on year. In June, the same figure was 2.8%.
According to StatCan, the mortgage interest expense index is to blame for this rise. Mortgage spending surged almost 31% year-on-year last month as Canadians extended and took out mortgages at higher rates, adding almost a full basis point to the overall consumer price index.