Interest rates have been low for so long that we forget the good things happening when they rise.
In a massively indebted place like Canada, rising rates can fairly be described as trouble waiting to happen for both households and governments. But higher rates are caused by positive economic developments like a firming job market and rising wages.
After years of sluggish increases, wage growth picked up noticeably at the end of 2017. If the pattern holds, and it will if job creation stays strong, then the households facing higher borrowing costs will have some help.
A lot of people need that help. With striking consistency, recent polls and surveys have shown a high level of stress about mone…
Read the full article at: https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/how-youre-getting-richer-even-as-the-cost-of-being-in-debt-rises/article37632875/
