For a few homeowners, the end of the road is a power of sale
Real estate industry watchers are growing increasingly nervous about the number of power-of-sale properties popping up on multiple listing services.
Rising interest rates are pressuring lenders and borrowers. The Bank of Canada has raised the benchmark rate from 0.25 per cent to 5 per cent over 17 months. That is a staggering rise in the cost of ownership for those who took out loans to buy homes at peak prices.
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