Despite fears that Canadian homeowners are overleveraged, a recent survey conducted by Which Mortgage revealed that it would take a major interest rate hike to affect affordability when it comes to homeowners’ current mortgages.

Most people surveyed currently have an interest rate between 1.5 and 3 percent on their mortgage, with the majority being under 2.5 percent. Almost 50 percent of people surveyed claim that less than 30 percent of their income is used for mortgage and housing-related expenses, and 38 percent of people said that it would take a rate hike of more than 3 percent in order to affect the availability to pay their mortgage.

That’s good news, especially since interest rates are expected to rise in the near future, albeit somewhat slowly.

It doesn’t change the fact, however, that some people are feeling somewhat discouraged with the new mortgage rules and how it’s affecting their purchasing power, even if they’re not first-time home buyers.

“It will affect how much we can afford for our next home. We plan on upgrading to a bigger home and it will be harder because of the changes,” one responder said.

These are the results of an online survey conducted between February 20 and March 21, 2017. 240 people responded from Ontario, Quebec, British Columbia, Alberta, Newfoundland, Saskatchewan, Manitoba, and New Brunswick.

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