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| 001 | 9.944009 |
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| 003 | CaOODSP |
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| 005 | 20250821075126 |
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| 006 | m o d f |
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| 007 | cr mn||||||||| |
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| 008 | 241010t20242024onca ob f000 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-7/2024-14E-PDF |
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| 100 | 1 |aBouras, Panagiotis, |eauthor. |
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| 245 | 10|aImpacts of interest rate hikes on the consumption of households with a mortgage / |cby Panagiotis Bouras, Joaquín Saldain, Xing Guo, Tom Pugh, and Maria teNyenhuis. |
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| 264 | 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2024. |
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| 264 | 4|c©2024 |
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| 300 | |a1 online resource (i, 13 pages) : |billustrations (some colour). |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff analytical note = |aNote analytique du personnel, |x2369-9639 ; |v2024-14 |
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| 500 | |a"Last updated: June 17, 2024." |
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| 504 | |aIncludes bibliographical references (page 13). |
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| 520 | |a"We combine loan-level data about residential mortgages in Canada with a realistic measure of each household's liquidity situation to assess how much the recent rate hike cycle has affected and will affect mortgage borrowers' consumption through its impact on mortgage payments. Our results indicate that increases in interest rates have reduced the average mortgage borrowers' consumption by 2.8% as at April 2024 and that the decrease is expected to fall further and reach 3.8% in early 2028. These increases reduce mortgage borrowers' consumption for two reasons: their mortgage payments increased during the rate hike cycle, and they will face a higher remaining balance to be paid off in the future. Because a rate hike cycle will increase the total debt burden of mortgage borrowers, the negative effects of a rate hike cycle on mortgage borrowers' consumption will last longer than the rate cycle itself"--Conclusion, page 6. |
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| 650 | 0|aInterest rates|zCanada|xEconometric models. |
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| 650 | 0|aMortgage loans|zCanada|xEconometric models. |
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| 650 | 0|aConsumption (Economics)|zCanada|xEconometric models. |
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| 650 | 6|aTaux d'intérêt|zCanada|xModèles économétriques. |
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| 650 | 6|aPrêts hypothécaires|zCanada|xModèles économétriques. |
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| 650 | 6|aConsommation (Économie politique)|zCanada|xModèles économétriques. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff analytical note (Bank of Canada)|v2024-14.|w(CaOODSP)9.807323 |
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| 856 | 40|qPDF|s541 KB|uhttps://publications.gc.ca/collections/collection_2024/banque-bank-canada/FB3-7-2024-14-eng.pdf |
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