Housing market will have to deal with higher rates for at least a few more months: TD economist – Video

Francis Fong, managing director at TD Economics, joins BNN Bloomberg to discuss the impact of the BoC’s interest rate pause on the housing market. He says interest rates have likely reached their peak, but we won’t see a downturn in rates for at least 6-9 months. He says the credit quality of the average mortgage borrower is extremely high but that the coming rate resets will test the strength of the banking system, especially in the case of variable rate mortgage holders.