* 18 per
cent of mortgage holders increased their mortgage payments in the past year.
• About 16 per
cent of mortgage holders increased their mortgages payments in 2016 and 18 per cent made an additional lump sum payment in the last year.
Not exact matches
However, a further
increase of one - half
of a per
cent would negatively impact 20 per
cent of Canadian
mortgage holder's overall standard
of living.
Only 21 per
cent of mortgage holders would see a significant impact on their standard
of living for a monthly
mortgage rate
increase of $ 100; 53 per
cent would see an impact, with an
increase of $ 200, the study says.
It says 42 per
cent of residential
mortgage holders polled have not seen their overall standard
of living significantly affected by the recent
mortgage rate
increases.
An
increase of one percentage point from current rates would negatively impact the overall standard
of living
of 29 per
cent of mortgage holders polled.
The report simulates the impact
of mortgage rate
increases up to 5.25 per
cent and finds that about 375,000
mortgage holders are already challenged by their current payments, and another 475,000 might be if their rate rises to 5.25 per
cent.
Eighty - four per
cent of mortgage holders said they can handle an
increase of $ 200 per month in their
mortgage payments, and 78 per
cent have at least 25 per
cent equity in their homes.