The Bank of Canada has already hiked interest rates three times since mid last year, raising the key lending rate by a total of 75 basis points to 1.25 per cent. and Ontario are also more indebted than the national average, but Albertans carry the heaviest debt loads," Hogue said. Hogue added that Alberta residents are also holding more shorter-term mortgage debt than other Canadian households, but higher-than-average incomes offer them "some breathing room." "Their debt-service bills will get bigger, and possibly sooner than elsewhere in the country, when interest rates rise. Meanwhile, markets are pricing in a nearly 70 per cent chance that the Bank of Canada will raise interest rates again in July.

Source: CBC News April 03, 2018 16:41 UTC