Central bank interest rate hikes begin to squeeze indebted consumers

The Bank of Canada’s increase to its key interest rate Wednesday, the second bump since July, will start putting a more noticeable squeeze on consumers holding variable rate mortgages, lines of credit or any consumer debt tied to bank prime lending rates, according to experts.
“It won’t necessarily have an affect on people trying to get into the (property) market,” Vancity mortgage expert Ryan McKinley said. “Who it does affect is people who already have some kind o