Mr. Speaker, the latest interest rate hike is having a devastating effect on Canadian homeowners and homebuyers.
Half of homeowners say that their mortgage is already barely affordable now, and shocking higher payments are only one renewal away. Rate hikes are also crushing the dreams of new homebuyers and threatening to collapse transactions that are currently in progress.
When will the Prime Minister take the advice of former Liberal finance minister John Manley, take his foot off the inflationary gas pedal and rein in his deficits?