Why some homeowners are falling into a mortgage payment trap they can't escape | About That

Many Canadian homeowners took advantage of historically low mortgage rates during the pandemic to lock in for five-year terms. Andrew Chang explains the perfect storm happening now as these terms come up for renewal at much higher rates at the same time as a depressed housing market.

Intro - 00:00
Trouble in paradise - 01:06
The 'death spiral' - 04:58
The fallout - 07:52

(Photo credits: The Canadian Press, Reuters, Adobe Stock and Getty Images)



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