Why Canada's housing market can't handle higher rates

Low interest rates on mortgages have helped push buyers into the housing market and helped real estate prices soar.

The Bank of Canada has been warning us to keep our debt under control and some worry about what will happen when rates rise.

We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home.

Also See: The latest real estate news for housing prices, mortgage rates, markets, luxury properties and more at Yahoo Finance Canada.

Saretsky says the economy isn’t ready for higher rates and the debt warnings are all about optics.

If you have questions, email them to jessybains@yahoofinance.com and John or Steve will answer them on the next episode.

Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting