![](https://s.realtyninja.com/static/media/med/10132_469f8ec4_Copy_of_September_2022_-_MVP_-_Blog_Post_Image.png)
Interest rates have risen rapidly this year, triggered by the Bank of Canada’s efforts to curb inflation. And the July MNP Consumer Debt Index found that 59% of Canadians “are already feeling the effects of interest rate increases.”
1
Why has the impact been so widespread? In part, due to the rising popularity of variable rate mortgages. According to...