Roughly six in 10 Canadians with a mortgage are financially stressed, with younger homeowners more likely to be under pressure.
In a new Leger survey, 68 per cent of respondents between 18 and 34 years of age with a mortgage say they are very or somewhat financially stressed about their mortgages, compared with 62 per cent across all homeowners.
Four out of 10 Canadians surveyed by Leger said they think the Bank of Canada should be cautious as it lowers interest rates, but another third think it’s not going fast enough.Respondents in households making more than $100,000 a year were more likely to say they support the central bank’s caution. Two thirds of respondents whose mortgages are up for renewal in the next two years say they plan to go for a fixed-rate mortgage. Younger respondents were more likely to say they will opt for a variable rate.
Wealth-building within a TFSA can be partly throttled by the limited contribution room. However, you can offset that by choosing the right growth/bullish stocks. The post TFSA Investors: 2 Top Bull Market Buys to Build Wealth Tax-Free appeared first on The Motley Fool Canada.
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