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Bank of Canada's Mortgage Concerns and Negative Sentiment
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Overview
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Bank of Canada expresses concerns over variable rate mortgages and negative amortization, while consumer sentiment in Canada turns negative due to high interest rates and a cooling economy. Canadian home sales also decline for the third consecutive month, with downgraded forecasts for the full year.
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How might the Bank of Canada's concerns over variable rate mortgages impact the mortgage market and borrowers?
How might the decline in consumer sentiment and the cooling economy affect other sectors of the Canadian economy, such as retail and manufacturing?
What measures could the Bank of Canada and the Canadian Real Estate Association take to address the negative impact of high interest rates and declining home sales?
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